Which of the following is an example of a monopoly?
A.) One large firm supplies the entire product to the market
B.) One firm supplies 60 percent of the product to the market and there are two other rival firms
C.) Many firms supply the same product essentially, but each has significant brand loyalty
D.) A few large firms supply the entire product to the market
A.) One large firm supplies the entire product to the market
You might also like to view...
If the marginal propensity to consume (MPC) is 0.8, the multiplier will be
A) 1. B) 5. C) 0.8. D) 4.
"The current account records foreign investment in a nation minus investment abroad." Is the previous statement correct or incorrect?
What will be an ideal response?
Aggregate expenditure will not equal GDP unless
a. next exports are zero. b. transfer payments are zero. c. inventory investment is positive. d. inventory investment is zero. e. inventory investment is negative.
If the price in an oligopoly market is the same as that of a monopoly with identical cost and demand conditions, then:
A. the average cost curve must be downward sloping. B. there may be collusion between firms. C. market demand must be unit elastic. D. This could never happen.