The most common reason for the existence of oligopolies is
A) ease of entry.
B) economies of scale.
C) diseconomies of scale.
D) advertising.
B
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Changes in the national incomes of our trading partners would directly affect our ________.
A. imports B. consumption C. government spending D. exports
One explanation for the increased participation of married women in the U.S. labor force is that
a. fewer women are being trained for household work by the public school system b. rapid growth in the service sector has provided additional job opportunities for women c. the cost of professional day care has increased d. couples are having more children e. husbands earn more today than they did previously
The slope of an indifference curve is equal to the ratio of the ____ of the good on the horizontal axis to the ____ of the good on the vertical axis
a. marginal product (MP); total value (TV) b. marginal utility (MU); marginal utility (MU) c. price (P); price (P) d. total utility (TU); price (P)
A firm's total cost of production
a. always increases as it produces more output b. can increase or decrease as it produces more output c. increases at a decreasing rate as long as it produces more output d. is fixed in the short run, because inputs are fixed in the short run e. can be minimized by producing where the firm's demand curve crosses the horizontal axis