Which of the following is a good example of a firm that is not likely to be perfectly competitive?
a. Farmer Joe's wheat.
b. Coyote Wile’s beef ranch.
c. Captain John's salmon farm.
d. Aviator Alan's nonstop airline service from Seattle to Nome.
d. Aviator Alan's nonstop airline service from Seattle to Nome.
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If the 4 largest cereal companies' total sales are $19 billion, and the industry's total sales are $55 billion then the Four-Firm Concentration Ratio is
A. 34.55%. B. 2.89%. C. 28.95%. D. 0.35%.
Water has a ________ marginal utility and brings a ________ consumer surplus; diamonds have a ________ marginal utility and bring a ________ consumer surplus
A) small; small; large; large B) large; large; small; small C) small; large; large; small D) large; small; small; large
The interest rate which the Fed charges banks that borrow reserves from it is the:
a. federal funds rate. b. discount rate. c. reserved rate. d. investment rate. e. check rate
Giving the Fed a high degree of independence means all but:
A. the Fed governors will not be as tempted by political pressure. B. it is less likely to expand the money supply simply to make it cheaper for the government to repay its debt. C. The federal government will not have to borrow to finance its budget deficit. D. technocrats-rather than politicians-are in charge, which tends to increase people's trust in the stability of the dollar.