Which of the following is likely to be a monopolist?
A.) A potato chip company that sells lots of chips and competes with other chip producers.
B.) A farmer who specializes in growing organic fruits and vegetables.
C.) The sole producer of a new medical device for people with limited mobility.
D.) The chemical company in a small town that employs most of the town's workforce.
C.) The sole producer of a new medical device for people with limited mobility.
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Because of the large current account deficits accumulated by the United States since 1981, the United States has become a
A) nation with no official reserves. B) balanced nation. C) broke nation. D) creditor nation. E) debtor nation. The table above gives data on the U.S. balance of payments in 2019.
Investment, as defined by economists, would not include which of the following? Ford
A) buys a new robotic machine (from a plant in Ohio) to assemble cars. B) builds another assembly plant in the United States. C) buys U.S. government bonds. D) adds 1,000 new cars to inventories.
In the long run, profits will equal zero in a competitive market because of
A) constant returns to scale. B) identical products being produced by all firms. C) the availability of information. D) free entry and exit.
Economists have found that as a nation's per capita real Gross Domestic Product (GDP) increases
A) the rate of population growth declines. B) the rate of population growth experiences dramatic increases. C) there is no effect on population growth. D) the rate of population growth increases at the same rate as economic growth.