Firms in an oligopoly market tend to have strategies that are ____ and have ____ barriers to entry.
a. Independent of one another; high
b. Independent of one another; low.
c. Interdependent with one another; high.
d. Interdependent with one another; low
c
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John has $40 to spend on pizza and tacos. Pizza costs $10 each and tacos are $1 per taco. John's real income ________
A) is $40 B) is 4 pizzas or 40 tacos C) is 4 pizzas plus 40 tacos D) depends only on his money wage
The labor supply curve shows the relationship between the
a. wage rate and the total quantity of labor demanded by firms b. wage rate and the total quantity of labor supplied by individuals c. wage rate and the total quantity of labor supplied by firms d. wage rate and the total quantity of labor demanded by individuals e. marginal revenue product of labor and the marginal physical product of labor
As country incomes rises, what would you generally expect to happen to the burden of noncommunicable diseases as a share of the total disease burden?
A) It should go up B) It should stay about the same C) There is no consistent relationship between the two D) as country incomes rise E) It should go down
Can a firm experience diminishing returns in the long run?
What will be an ideal response?