If you drive on a rural stretch of highway and come upon an intersection in which there is only one gas station, and you know it to be the only one for 100 miles, it is a
A. monopolist.
B. monopolistic competitor.
C. perfect competitor.
D. oligopolist.
Answer: A
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If you liquidate $3,000 of your mutual fund and transfer the funds to your checking account, then initially, M1 will ________ and M2 will ________
A) increase; decrease B) increase; not change C) not change; not change D) not change; decrease
Justin builds fences for a living. Justin's out-of-pocket expenses (for wood, paint, etc.) plus the value that he places on his own time amount to his
a. producer surplus. b. producer deficit. c. cost of building fences. d. profit.
If the demand for loanable funds shifts to the right, then the equilibrium interest rate
a. and quantity of loanable funds rises. b. and quantity of loanable funds falls. c. rises and the quantity of loanable funds falls. d. falls and the quantity of loanable funds rises.
Which of the following is the best example of a public good?
What will be an ideal response?