The local department store might have been considered ________ before technological change.
A. a perfect competitor
B. a natural monopoly
C. an oligopoly
D. a monopoly
Answer: D
You might also like to view...
Explain how the current U.S. tax system levies taxes on capital gains and earned interest. What does this mean for the costs of inflation?
What will be an ideal response?
Angelo's Pizza is famous for its secret tomato sauce. The managers of Angelo's Pizza are more likely to produce all of their inputs rather than buy them due to ________.
A) communication costs B) transportation costs C) economies of scale D) trade secrets
Which of the following would lead to a depreciating dollar?
a. a higher federal deficit b. lower interest rates c. higher interest rates d. contractionary monetary policy
The shape of the total-cost curve is unrelated to the shape of the production function
a. True b. False Indicate whether the statement is true or false