Of the following high-income countries, which has the highest number of CT scanners per 1 million population?

Suppose a firm in a competitive market reduces its output by 20 percent. As a result, the price of its output is likely to

a. increase. b. remain unchanged. c. decrease by less than 20 percent. d. decrease by more than 20 percent.

Which of the following examples illustrates an oligopoly market?

a. a farmers' market with many individuals selling sweet corn and tomatoes b. a city whose electrical service is provided by one electric co-operative c. a city with two firms who are licensed to sell school uniforms for the local schools d. a city with many independently-owned hair styling salons