There are thousands of broadband internet providers in the country, while in a particular city the only way you can get it is through the phone, the cable company, or through DIRECTV. The best model to analyze this market is
A. monopoly.
B. oligopoly.
C. perfect competition.
D. monopolistic competition.
Answer: B
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The indifference curves for perfect substitutes are right angles
a. True b. False Indicate whether the statement is true or false
According to the law of demand, an increase in the price of baseball trading cards causes:
A. baseball trading cards to grow in abundance. B. the scarcity of baseball trading cards to increase. C. people to buy fewer trading cards. D. people to buy more trading cards.
If two countries each are currently producing two goods, and each begins to specialize in the good in which it has a comparative advantage, what will happen to total (world) output?
A. It will increase. B. It will decrease. C. It will be unchanged in both countries. D. It will rise in one country and fall in the other, but the total is unchanged. E. Uncertain; economic theory has no answer to this question.
If a goal of a nation's residents is to increase marginal productivity, they should increase
A) expenditures on education. B) the inheritance tax. C) exports. D) the marginal propensity to consume.