In Eugene, Oregon, there are several Italian restaurants, each offering slightly different items prepared in slightly different ways. It is likely that an Italian restaurant in Eugene, Oregon, operates in a(n):
A. perfectly competitive market.
B. monopolistically competitive market.
C. monopoly market.
D. oligopoly market.
Answer: B
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In the above figure, the marginal revenue product is represented by line
A) "a." B) "b." C) "c." D) "d."
An increase in currency in circulation would ____ M1 and ____ M2. a. increase; increase
b. not change; increase. c. decrease; decrease. d. not change; decrease.
Which of the following activities would fall under the leisure category in labor-leisure indifference curve analysis
a. cutting your own lawn. b. cleaning your own garage. c. neither a or b. d. both a and b.
When the price of a good is measured in dollars, then the size of the deadweight loss that results from taxing that good is measured in
a. units of the good that is being taxed. b. units of a related good that is not being taxed. c. dollars. d. percentage change.