« previous next »

Author Question: Which of the following markets is closest to a monopoly? A) a firm with a 90 market share B) the ... (Read 115 times)

jeatrice

  • Hero Member
  • *****
  • Posts: 543
on: Jul 1, 2018
Which of the following markets is closest to a monopoly?
 
  A) a firm with a 90 market share
  B) the only gas station for 100 miles
  C) cable television
  D) garbage disposal

Question 2

Firms that exhibit price-taking behavior
 
  A) wait for other firms to set price, take it as given, and charge a higher price.
  B) have outputs that are too small to influence market price and thus take it as given.
  C) take pricing behavior in their own hands.
  D) are independently capable of setting price.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


mceravolo

  • Sr. Member
  • ****
  • Posts: 349
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Rebound Tenderness, Apply Firm Pressure to the Abdomen Rebound Tenderness, Apply Firm Pressure to the Abdomen
Monopoly, patented in 1935, was an instant best-seller: Players risk all their assets in an attempt Monopoly, patented in 1935, was an instant best-seller: Players risk all their assets in an attempt
Capital’s Share of Income in a Cross-Section of Countries Capital’s Share of Income in a Cross-Section of Countries
Stock Market Question Stock Market Question
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
Video: How proteins function? How do proteins work?

For a complete list of videos, visit our video library