A market dominated by a few large sellers who sell identical or ...

[yoooooman]

A market dominated by a few large sellers who sell identical or differentiated products is called
 
  A) perfect competition.
  B) monopolistic competition.
  C) monopoly.
  D) oligopoly.

Question 2

In the nation of Gonzo, the number of employed is 95 million, the adult population is 125 million, and the number of unemployed is 5 million. Calculate the unemployment rate, the employment rate, and the labor force participation rate in Gonzo.
 
  What will be an ideal response?

[Cheesycrackers]

Answer to Question 1

D

Answer to Question 2

Unemployment rate: (5 million)  (95 million + 5 million)  100 = 5.
Employment rate: (95 million)  (95 million + 5 million)  100 = 95.
Labor force participation rate: (95 million + 5 million )  (125 million)  100 = 80.