A monopolistically competitive industry is characterized by ________ concentration ratios and ________ entry barriers.
A. high; low
B. low; low
C. low; high
D. high; high
Answer: B
You might also like to view...
Suppose the following information describes the economy:Government purchases of goods and services1,000Household saving1,000Government transfers and interest payments500Tax collections500Business saving1,500Private saving equals ____and public saving equals ________.
A. 2,500; 0 B. 2,500; -1,000 C. 1,000; -500 D. 1,000; 0
When the marginal product of an additional worker is less than the marginal product of the previous worker, there are ________ returns to labor
A) increasing total B) decreasing total C) increasing marginal D) decreasing marginal E) constant average
Which of the following is not correct?
a. There is a greater reduction in risk by increasing the number of stocks in a portfolio from 1 to 10, than by increasing it from 100 to 120 stocks. b. The historical rate of return on stocks has been about 5 percentage points higher than the historical rate of return on bonds. c. Stock in an industry that is very sensitive to economic conditions is likely to have a higher average return than stock in an industry that is not so sensitive to economic conditions. d. If you had information about a corporation that no one else had, you could earn a very high rate of return. This contradicts the efficient market hypothesis.
Successive downward movements along the demand curve for the product of a monopolist always generate successive
A) increases in the monopolist's marginal revenue. B) increases in the monopolist's average total costs. C) decreases in the additional per-unit costs incurred by the monopolist. D) decreases in the additional per-unit revenues earned by the monopolist.