Which of the following would be classified as a differentiated product produced by a monopolistic competitor?
a) natural gas
b) tap water
c) electricity
d) Channel No. 5
Answer: d) Channel No. 5
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If the face value of a bond is $10,000,000, the coupon rate is 7%, and the inflation rate is 4%, then the annual coupon payment made to the holder of the bond is
A. $400,000. B. $700,000. C. $70,000. D. $300,000.
When we compare shares of income earned by U.S. households, which of the following statements about the distribution of income is true?
A) Shares of income decrease as we move from the lowest quintile to the highest quintile. B) Shares of income increase as we move from the lowest quintile to the highest quintile. C) Shares of income remain fairly constant as we move from the lowest quintile to the highest quintile. D) Shares of income decrease as we move from the lowest quintile to middle quintile, and then decrease from the middle quintile to the highest quintile.
Acquiring information on a bank's activities in order to determine a bank's risk is difficult for depositors and is another argument for government
A) regulation. B) ownership. C) recall. D) forbearance.
In perfect competition, environmental externalities need not distort the allocation of resources providing:
a. transactions costs are zero. b. average costs are constant for all output levels. c. firms install pollution control equipment. d. the government sets realistic pollution standards.