The market for indentured servants could be best described as:
a. A monopoly.
b. An oligopoly.
c. A competitive market.
c. A competitive market. There were many captains in the market, and they were located at the docks in a small number of English seaports. With many demanders and low costs for the servants of seeking additional offers, this was a competitive industry.
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One benefit of monopolistic competition over perfect competition is
A) economic profit. B) product variety. C) excess capacity. D) efficiency.
When demand increases in a perfectly competitive market, in the short run ________, and in the long run ________.
A. quantity supplied increases; supply decreases B. quantity supplied increases; supply increases C. quantity supplied decreases; supply increases D. quantity supplied decreases; supply decreases
Points that lie beneath the production possibilities curve are:
A. unattainable but efficient. B. attainable and efficient. C. attainable but inefficient. D. unattainable and inefficient.
Free trade may be good for a nation, but not for everyone in the nation. Explain why free trade is controversial and the list the justifications that proponents of trade adjustment assistance offer in support of those policies
What will be an ideal response?