Even if entry is easy, oligopolists possess sufficient market power so that profits are assured in the long run
a. True
b. False
Indicate whether the statement is true or false
False
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According to the law of diminishing returns, if population grows, but the amount of available resources stays the same, output will ______.
a. fall at an inverse rate b. stay the same c. rise, but by ever shrinking amounts d. rise at a steady rate
An oligopolistic firm finds that marginal revenue can range from $10 to $25 at an output level of 2500 units. This information would suggest that the oligopolistic model for this industry is most likely one of:
A. kinked demand. B. price leadership. C. cost-plus pricing. D. collusive pricing.
According to most economists, the development of markets is:
A. both a necessary and a sufficient condition for development. B. a sufficient condition for development but not a necessary condition. C. a necessary condition for development but not a sufficient condition. D. neither a necessary nor a sufficient condition for development.
About what percentage of bank assets is made up of cash items in 2012?
A) 8% B) 20% C) 37% D) 50%