According to Peter Theil's book Zero to One,
A. there is only one market structure-perfect competition.
B. there are two market structures-oligopoly and monopoly.
C. there is only one market structure-dynamic monopoly.
D. there are two market structures-oligopoly and competition.
Answer: C
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Use the following table showing maximum-output alternatives for Brazil and Poland to answer the next question.CountryWineMachinesBrazil3010Poland1010If the two nations open up trade with each other, then
A. Brazil will not gain from specializing and trading, but Poland will gain. B. Brazil will specialize in producing machines and import wine. C. Poland will specialize in producing machines and import wine. D. Poland will export wine.
When we look at a production possibilities curve, the opportunity cost can be understood as
A) The point of maximum production of one good B) The amount of the other good that must be given up for one more unit of production C) The total cost of producing the good D) The price people will pay for the additional amount produced
When the price level in an economy falls, the demand for bonds and other nonmonetary financial assets rises
a. True b. False Indicate whether the statement is true or false
Suppose Country A and Country B are the only two countries in the world. Country A imports Good X from Country B and exports Good Y. In the absence of any transportation cost, at the world price of Good X
A. Country A's import demand curve will be perfectly inelastic. B. both Country A's import demand curve and Country B's export supply curve are positively sloped. C. Country A's import demand curve will intersect Country B's export supply curve. D. Country B's export supply curve is perfectly inelastic.