Which of the following is an example of monopoly?
A. Local utility industry in a small town
B. Bread industry in New York City
C. Shoe industry in the United States
D. Newspaper industry in New York City
Answer: A
You might also like to view...
A price floor
A) changes the equilibrium price if it is imposed in black markets. B) changes the price and quantity if it is set below the equilibrium price. C) changes the price and quantity if it is set above the equilibrium price. D) does not create a black market if it is set above the equilibrium price. E) changes the price and quantity only if it equals the equilibrium price.
What does the law of diminishing returns imply for the shape of the marginal cost curve?
What will be an ideal response?
There is substantial evidence that people base their consumption decisions more on their current income than on the average income they expect to receive over a long period of time
a. True b. False Indicate whether the statement is true or false
As efficiency wage is higher than the market wage, it must reduce the disutility of effort for a worker
Indicate whether the statement is true or false