Which of the following is an example of a highly organized market?
a. the market for textbooks
b. the market for spa services
c. the market for soybeans
d. the market for ice cream
c
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Since business firms will undertake a project whose rate of return exceeds the present level of interest rates, when interest rates
A) rise planned investment rises, ceteris paribus. B) fall planned investment falls, ceteris paribus. C) rise planned investment does not change. D) rise planned investment falls, ceteris paribus.
For which pair of firms would a merger be horizontal?
a. Avis Rentals and United Airlines b. Rawlings and Nike c. Barnes and Noble and Wordsworth Booksellers d. Starbucks and Baskin and Robbins e. Samuel Adams and Samsonite
Refer to the graph shown. The welfare loss of monopoly is:
A. 2,112.5. B. 1,137.5. C. 2,762.5. D. 1,381.25.
Which of the following characterizes the difference between oligopoly and monopolistic competition?
A. Monopolistically competitive firms experience zero long-run economic profit; oligopolists may experience positive long-run economic profit. B. Oligopolists are independent of each other; monopolistically competitive firms are interdependent. C. Monopolistically competitive firms face horizontal demand curves; oligopolists face downward-sloping demand curves. D. There are many oligopolists but only a few monopolistically competitive firms.