An oligopolistic market
a. has a small number of rival firms, and each is large relative to the size of the market.
b. is characterized by firms that merely take the price that is determined by the forces of supply and demand in the market.
c. has low entry barriers facing firms that may be interested in entering the market.
d. has a large number of firms that are small relative to the size of the market.
A
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In the steady state of Solow's exogenous growth model, an increase in total factor productivity
A) increases output per worker and increases capital per worker. B) increases output per worker and decreases capital per worker. C) decreases output per worker and increases capital per worker. D) decreases output per worker and decreases capital per worker.
If a profit-maximizing firm finds that, at its current level of production, MR > MC, it will
A) earn greater profits than if MR = MC. B) increase output. C) decrease output. D) shut down.
Which of the following would tend to increase AD?
a. a commercial bank using excess reserves to extend a loan to a customer b. a commercial bank purchasing U.S. securities from the Fed as an investment c. an increase in reserve requirements d. an increase in the discount rate
The accounting relationship between the budget deficit and the trade deficit may be expressed as ____
a. G + T = (S + I) + (X ? IM) b. G ? T = (S + I) + (X + IM) c. (X - IM) = (S - I) ? (G - T) d. (X - IM) = (S + I) ? (G - T)