Author Question: If losses are unavoidable in an uncertain world, then A) profits are too. B) profits are only ... (Read 45 times)

fasfsadfdsfa · **on:** Jun 29, 2018

If losses are unavoidable in an uncertain world, then

A) profits are too.
B) profits are only the result of good luck.
C) profits are avoidable.
D) profits are the result of people acting with perfect information.

Question 2

A large number of firms in Richland sell energy drinks. However, each firm faces a downward sloping demand curve. The market for energy drinks in Richland is an example of a(n) ________.

A) perfect competition
B) monopolistic competition
C) monopoly
D) oligopoly