Which of the following industries does not fit the natural monopoly model?
A. Natural gas
B. Cable TV
C. Electricity
D. Fast food restaurants
Answer: D
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Which of the following statements correctly identifies a similarity between monopoly and perfect competition?
A) Entry is restricted in both market structures.
B) Price equals marginal cost in both market structures.
C) Production is expanded until marginal revenue equals marginal cost in both the market structures.
D) Firms face an upward sloping demand curve and a downward sloping marginal revenue curve in both the market structures.
If the stock market booms, investment will rise.
Answer the following statement true (T) or false (F)
The process in which economic growth destabilizes existing regimes and reduces the political power of rulers and monarchs is referred to as:
A) institutional destruction. B) polarization. C) division of powers. D) political creative destruction.
If you are considering buying either an Apple Watch or a Samsung Gear S2, and you choose the Samsung only because the price is lower, then you consider
A) the Apple Watch and the Samsung Gear S2 to be substitutes. B) the Apple Watch and the Samsung Gear S2 to be complements. C) the Apple Watch to be a normal good and the Samsung Gear S2 to be an inferior good. D) the Apple Watch to be an inferior good and Samsung Gear S2 to be a normal good.