The market structure that consists of many firms, each selling a slightly differentiated product, is called:
a. perfect competition
b. a monopoly.
c. monopolistic competition.
d. an oligopoly.
c
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Refer to the above table. The table gives the combinations of real disposable income and real consumption for a college student for a year. What is the value of the average propensity to save equal when real disposable income equals $14,000?
A) 1.1 B) 0.91 C) 0.09 D) 0.7
In the United States in 2014, the percentage of people that directly purchased an individual or family health insurance policy from an insurance company was about
A) 2%. B) 15%. C) 17%. D) 26%.
Consumption spending is $22 million, planned investment spending is $7 million, actual investment spending is $7 million, government purchases are $9 million, and net export spending is $3 million
Based on this information, which of the following is true? A) Aggregate expenditure is equal to GDP. B) Aggregate expenditure is greater than GDP. C) Aggregate expenditure is less than GDP. D) There was an unplanned change in inventories.
Marquis borrowed $1,000 from Ayana for a year and agreed to repay her $1,050 at the end of the year. If the inflation rate was 3 percent, what is the real rate of interest Ayana received?
a. 10 percent b. 5 percent c. 3 percent d. 2 percent e. -2 percent