A special kind of imperfectly competitive market that has only two firms is called
a. a two-tier competitive structure.
b. an incidental monopoly.
c. a doublet.
d. a duopoly.
d
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Interest is the payment for the use of
A. borrowed funds. B. natural resources. C. labor. D. any factor of production.
A change in economic output is ________ if the value of the resulting gains exceeds the value of the resulting losses.
A. always inefficient B. irrelevant C. always efficient D. potentially efficient
What matters to people is the face value of money or income
Indicate whether the statement is true or false
What is one reason online prices might be considerably lower than brick-and-mortar prices?
A) Online retailers engage in more price discrimination. B) Brick-and-mortar retailers engage in more price discrimination. C) Brick and mortar retailers may have higher costs. D) Online retailers are more likely to have steep demand curves.