In a small town the level of demand is capable of supporting only ...

[tiffannnnyyyyyy]

In a small town the level of demand is capable of supporting only two gas stations. This market is
 
  A) a natural duopoly.
  B) perfectly competitive because a homogeneous good is being sold.
  C) operating as if it was a monopoly.
  D) an example of monopolistic competition.

Question 2

The table shows the demand and supply schedules for jeans.
 
  A) At 60 a pair, there is a shortage of jeans and the price will fall.
  B) At 60 a pair, there is a surplus of jeans and the price will rise.
  C) At 40 a pair, there is a shortage of jeans and the price will rise.
  D) At 40 a pair, there is a shortage of jeans and the price will fall.

[nikmaaacs]

Answer to Question 1

A

Answer to Question 2

C

[tiffannnnyyyyyy]

YES! Correct, THANKS for helping me on my review

[meganmoser117]

Thanks for the timely response, appreciate it