Which of the following markets has a single firm?
A) Perfect competition
B) Monopolistic competition
C) Monopoly
D) Oligopoly
C
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what happens when demand decreases and supply does not change
What will be an ideal response?
Lydia was born with an aptitude for composing music. This aptitude is an example of
A. property. B. natural capital. C. human capital. D. a compensating differential.
Which tool of monetary policy is most important? Why?
What will be an ideal response?
The nation of Cropitia has a comparative advantage over Bonovia in producing ham if
A. Cropitia can produce more than 320 pounds of cheese per month. B. Cropitia's opportunity cost of producing a pound of ham is less than 0.8 pounds of cheese. C. Cropitia's opportunity cost of producing a pound of ham is greater than 0.8 pounds of cheese. D. Cropitia can produce more than 400 pounds of ham per month