The consumer wifi-service providers' market is best described as a:
A. Monopolistic competition
B. Monopoly
C. Differentiated oligopoly
D. Homogeneous oligopoly
C. Differentiated oligopoly
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Consider the market for heart transplants. The demand for a heart transplant is perfectly inelastic and the supply curve is upward sloping
If a $1,000 tax per transplant tax is imposed on buyers (the recipients), how will the tax be divided between the buyer and seller? A) The sellers will pay the entire tax. B) The buyers will pay the entire tax. C) The tax will be evenly divided between the sellers and buyers. D) More information is needed to determine how the tax is split.
The Herfindahl index is the sum of the squared market shares of the four largest firms in an industry
a. True b. False
Globalization has most likely occurred for which of the following reasons?
a. International agreements and treaties between countries have encouraged greater trade. b. Expanding cultural connections between people around the world. c. Expanding economics connections between people around the world. d. Increased military spending.
When equilibrium is present, if market conditions do not change,
a. the current price will tend to rise in the future, and the current quantity will tend to fall. b. the current price will tend to fall in the future, and the current quantity will tend to rise. c. the current price and quantity will tend to persist in the future. d. the current price will tend to persist in the future, but the current quantity will tend to rise.