Which one of these firms would be an oligopolist?
A. The only medical doctor in Farmer City, Illinois
B. A wheat farmer near Ogallala, Nebraska
C. Hewlett-Packard (computers)
D. The Billy Goat Tavern in Chicago
C. Hewlett-Packard (computers)
You might also like to view...
Which of the following is NOT a source of bias in the CPI? i. quality change bias ii. new goods bias iii. quantity change bias
A) i only B) ii only C) iii only D) i and ii E) ii and iii
If all firms are paying efficiency wages and nominal aggregate demand falls, then between maintaining nominal wages and reducing them firms generally find it more profitable to ________ them, thus ________ the unemployment rate
A) maintain, increasing B) maintain, maintaining C) reduce, increasing D) reduce, maintaining
Which of the following is a public good?
a. Pencil. b. Apple. c. Light house. d. Gun.
What type of cost is not relevant to the process of research and development or invention in general?
A. Fixed cost B. Marginal cost C. Variable cost D. Social cost