Which of the following regarding a monopolist is INCORRECT?
A) The monopolist is a single supplier of a good or service.
B) The monopolist constitutes the entire industry.
C) Only expensive products are produced by monopolies.
D) There are barriers to entry that allow monopoly.
C
You might also like to view...
If a bank has excess reserves of $5,000 and demand deposit liabilities of $80,000, and if the reserve requirement is 20 percent, then the bank has actual reserves of
A) $11,000. B) $20,000. C) $21,000. D) $26,000.
"Since checking accounts now pay interest they should not be included in the money supply." Given that checks are the major medium of exchange, this statement is false because
A) checking accounts are primarily used for savings in the current year. B) the interest rate on checking accounts is lower than on other accounts. C) the demand for real balances is negatively related to interest rates. D) money is money.