Eggs are sold in five different markets. The price for a dozen eggs in market A is $3, in market B price is $1, in market C price is $2, in market D price is $5, and in market E price is $4 . In which market is the market structure most likely to be monopoly?
a. A
b. B
c. C
d. D
e. E
D
You might also like to view...
Due to the subjective nature of the questions that would be needed to determine if someone is underemployed or a discouraged worker, adjusting the unemployment rate to accurately reflect these situations
A) is very easy to do. B) is somewhat difficult. C) is impossible. D) Since so few people are actually underemployed or discouraged workers, adjusting the unemployment rate to reflect these situations is considered an unnecessary waste of time.
Is the $821 billion that the government would spend on incentive programs and compensation for higher energy prices part of the opportunity cost of producing electricity?
What will be an ideal response?
Even though Mary's income is very low, she makes sure that she purchases enough milk for her family to drink. As her income rises, she does buy more milk. Which graph in the above figure best represents Mary's Engel curve for milk?
A) Graph A B) Graph B C) Graph C D) Graph D
Classical economists believe that all markets are basically competitive and all prices are flexible
Indicate whether the statement is true or false