Monopolies have ____ substitutes
A) many
B) few
C) no
D) several but less than 10
C
You might also like to view...
What is one specific economic situation that a balanced budget amendment would create?
A) It would prevent deficits during peacetime. B) It would curtail inflation. C) It would forbid budget surpluses. D) It would prevent a recession.
A weakness in the classical economic claim that a recession is caused by a decrease in labor demand curve is
a. that labor demand never changes b. that labor demand increases during a recession c. that labor supply decreases during a recession d. the confusion between a shift of the labor demand curve and a movement along that curve e. the impossibility in the classical model of total spending ever being deficient
A seller's opportunity cost measures the
a. value of everything she must give up to produce a good. b. amount she is paid for a good minus her cost of providing it. c. consumer surplus. d. out of pocket expenses to produce a good but not the value of her time.
When a single firm can supply a product to an entire market at a lower cost than could two or more firms, the industry is called a
a. resource industry. b. exclusive industry. c. government monopoly. d. natural monopoly.