A market has the following characteristics: There is strategic pricing, output is somewhat restricted, there is interdependent decision making, and some long-run economic profits are possible. This market is:

A. an oligopoly.
B. monopolistically competitive.
C. perfectly competitive.
D. a monopoly.


Answer: A

Economics

You might also like to view...

If you deposit $1,000 in cash in your checkable deposit at your bank, the quantity of M1 immediately

A) increases by $1,000. B) decreases by $1,000. C) does not change in size. D) increases by $2,000. E) changes, but more information about the required reserve ratio is necessary to determine the amount of the change.

Economics

What are some of the likely consequences of price ceilings on agricultural inputs?

What will be an ideal response?

Economics

The Fixed Effects regression model

A) has n different intercepts. B) the slope coefficients are allowed to differ across entities, but the intercept is "fixed" (remains unchanged). C) has "fixed" (repaired) the effect of heteroskedasticity. D) in a log-log model may include logs of the binary variables, which control for the fixed effects.

Economics

Scarce good

What will be an ideal response?

Economics