Under conditions of pure monopoly:
A. the firm is a price taker.
B. there is no advertising.
C. there are close substitutes.
D. entry is blocked.
Answer: D
You might also like to view...
Many clothing manufacturers are able to practice price discrimination by selling products in department stores and also in outlet stores
Indicate whether the statement is true or false
Refer to the table above. For trade to occur along the lines of comparative advantage, wages in A relative to wages in B (measured in the same currency)
A) must be at least twice but less than 3 times as great. B) must be less than three times as small. C) must be greater than $2 but less than $3. D) Need more information to answer.
A firm that generates zero economic profit usually has
A) negative business profit. B) zero business profit. C) positive business profit. D) business profit equal to half the total revenue.
today the futures price for corn for december delivery in chicago is $3.30/bu and yesterday it was $3.40/bu. today the local cash price is $3.05/bu/ today, the local basis is:
a) $0.35/bu b) -$.035/bu c) $0.25/bu d) -$0.25/bu e) not enough information is provided