An oligopolistic industry is characterized by a few large firms acting independently
Indicate whether the statement is true or false
FALSE
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The most prominent secondary financial market is
A) the New York Stock Exchange. B) the American Stock Exchange. C) the Nasdaq. D) the over-the-counter market.
The real wage is the:
A. ratio of wage of unskilled workers to the wage of skilled workers. B. demand for labor. C. price of labor. D. marginal product of labor.
If John drives more recklessly because he has good automobile insurance, it is an example of moral hazard.
Answer the following statement true (T) or false (F)
Refer to the graph below, showing the long-run supply and demand curves in a purely competitive market. We know that in this market, the marginal:
A. Cost equals marginal benefit at P1Q1
B. Benefit exceeds marginal cost at the output level of Q2
C. Cost exceeds marginal benefit at the output level of Q2
D. Cost equals marginal benefit at all points on the supply curve