The four main types of market structure are
A. marginal cost, marginal revenue, product, and price.
B. average product, average cost, long run, and short run.
C. land, labor, capital, and business know-how.
D. perfect competition, monopolistic competition, oligopoly, and monopoly.
Answer: D
You might also like to view...
An economic problem with using subsidies or price ceilings to move a monopoly toward the competitive equilibrium is that
a. it may increase monopoly profits. b. it may decrease monopoly profits. c. policy makers may not be able to determine what the competitive equilibrium is. d. policy makers always need to be lobbied before taking any actions.
Why are cartels among firms usually kept secret?
What will be an ideal response?
What are the assumptions of the Heckscher-Ohlin theorem?
What will be an ideal response?
A country is categorized as a low-income economy by the World Bank if its per capita income is below:
a. $1,000. b. $100. c. $10,000. d. $50. e. $5,000.