A monopoly exists because of
a. barriers to entry
b. the large number of buyers and sellers
c. the absence of barriers to entry
d. collusion among the dominant firms
e. the absence of exclusive government franchises
A
You might also like to view...
Explain the reason why the debt-to-GDP ratio in the United States is expected to explode between now and the year 2042
What will be an ideal response?
A U.S. federal budget deficit that raises real interest rates is most likely to:
a. lead to a depreciation of the dollar in the foreign exchange market. b. encourage foreign investment in U.S. securities. c. lead to an increase in exports. d. lead to an appreciation of other currencies relative to the U.S. dollar. e. discourage imports of foreign goods.
A demand curve with unit elasticity can never touch either the vertical or horizontal axes
a. True b. False Indicate whether the statement is true or false
Which of the following statements is true?
A) A savings deposit is not counted in the most basic, or narrow, definition of the money supply. B) M1 is sometimes referred to as transactions money. C) Money reduces the transaction costs of making exchanges. D) b and c E) a, b, and c