There are hundreds of local water companies, but economists insist that in each community they are ________ because consumers have no other choices in the local market in which they live.
A. oligopoly
B. monopoly
C. monopolistic competition
D. perfect competition
Answer: B
You might also like to view...
People expect that the exchange rate for the dollar will rise from 90 yen per dollar to 111 yen per dollar in a month. As a result
A) the supply curve of dollars shifts leftward. B) the supply curve of dollars shifts rightward. C) the demand curve for dollars shifts leftward. D) there is a downward movement along the supply curve of dollars.
Why does the problem of the big tradeoff arise when the government engages in the process of redistributing income using taxes and transfers?
What will be an ideal response?
Refer to the graph shown. Suppose an economy begins at point B but then adopts a contractionary monetary policy. In the long run, this policy would most likely:
A. lower inflation to 3 percent but raise unemployment to 7.5 percent. B. lower inflation to 3 percent but leave unemployment at 5.5 percent. C. raise inflation to 9 percent but lower unemployment to 4 percent. D. raise inflation to 9 percent but leave unemployment at 5.5 percent.
Why have health care costs risen so much in recent years?
What will be an ideal response?