A monopoly occurs when
A. There is only one producer of a particular good or service.
B. A firm gains some level of market power.
C. A firm charges a price greater than the equilibrium price.
D. There is an underproduction of a good or service by a firm.
Answer: A
You might also like to view...
The operational goals the Fed uses for its monetary policy objectives are
A) the demand for reserves and the supply of reserves. B) the core inflation rate and the output ga
If the government wanted to reduce the quantity of a good traded, it could do so by: a. setting a price ceiling for the good below the equilibrium price. b. setting a price floor for the good above the equilibrium price. c. taxing the good more heavily
d. doing any of the above.
The supply of Thai baht in the foreign exchange market originates with:
a. tourists who go on vacation to Thailand. b. the export of Thailand oranges and other goods. c. Thai residents who wish to purchase goods from other countries. d. the Thai royal family. e. Thai central bank intervention to stop the peseta from depreciating.
In 2013, the U.S. spent more on research and development than any other country in the world
a. True b. False Indicate whether the statement is true or false