Which of the following is NOT a necessary condition for oligopoly?
A) barriers to entry
B) strategic dependence of firms
C) differentiated products
D) either a small number of firms or market dominance by a small number of firms
Answer: C
You might also like to view...
While moving along a production possibilities frontier, the amount of labor ________, the amount of capital ________, and the level of technology ________
A) varies; varies; varies B) varies; is fixed; is fixed C) is fixed; is fixed; is fixed D) is fixed; is fixed; varies E) varies; is fixed; varies
Which of the following ideas is illustrated by the production possibilities curve [PPC]?
a. There are no limits on the total production feasible in an economy. b. An economy need not decrease the production of one commodity to increase the production of another. c. It is possible to satisfy unlimited wants in an economy through proper investment in research and development. d. When an economy chooses to produce a combination of goods and services, other combinations of goods and services are sacrificed. e. An economy can specialize in the production of only one good.
According to Bill Gates, from the World View article titled "The Way We Give: Philanthropy Can Step In Where Market Forces Don't," more than 90 percent of the money devoted to health research is spent on those who
A. Are the healthiest. B. Live in developing countries. C. Are balding. D. Have malaria.
Suppose there are no borrowing constraints but the individual wishes to leave a bequest of $120,000 (after adjusting for inflation) to heirs. Then annual consumption should be
Consider an individual who enters adulthood and the labor force at age 18, expects to work 5 years at a real income of $10,000 per year, anticipates earning a real income of $40,000 per year from age 23 to 63, expects to retire with a $10,000 annual pension, and live until age 78. Suppose the interest rate is zero, and the individual seeks perfectly smooth consumption across his adult lifetime. a) $12,000 b) $16,000 c) $20,000 d) $24,000 e) $28,000