Which statement is true?
A. One basis for monopoly is control over an essential resource.
B. All forms of a monopoly are illegal in the United States.
C. Economies of being established is the same as economies of scale.
D. General Motors is a monopoly.
A. One basis for monopoly is control over an essential resource.
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What will be an ideal response?
Ultimately, the real burden of paying for Social Security benefits will be paid for by
A) taxes levied on workers. B) Social Security trust fund bonds. C) new federally issued Treasury bills. D) a new tax levied on businesses.
Compared to the perfectly competitive outcome, monopolistically competitive markets will result in:
a. a wider variety of products and higher prices. b. less product variety and higher prices. c. a wider variety of products and lower prices. d. less product variety and lower prices.
The type of advertising used for a search good is
A) informational advertising. B) persuasive advertising. C) search advertising. D) experience advertising.