The contestable market theory best applies to
a. pure monopoly.
b. oligopoly.
c. monopolistic competition.
d. perfect competition.
b
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Shontae wants to start a pet hotel and is thinking of setting it up as a partnership with her sister Victoria
What are the advantages and disadvantages she will face by setting up the business as a partnership as opposed to a sole proprietorship or a corporation?
The Bretton Woods system
a. put the world on a gold standard. b. put the world on a system of fixed exchange rates. c. put the world on a system of floating exchange rates. d. established the system of balance-of-payments accounts.
Gross private domestic investment includes
a. purchases of capital goods, all new construction, and purchases of consumer durable goods b. purchases of capital goods, all new construction, and inventory investment c. purchases of capital goods, all new commercial construction, and inventory investment d. purchases of capital goods, all new residential construction, and inventory investment e. purchases of all types of durable goods, all new construction, and inventory investment
In the short-run, if a firm increases output when MR > MC, then:
A. profit will equal zero. B. profit will increase. C. profit will decrease. D. profit will remain the same.