Pricing and output determination under an oligopoly is more complicated than pricing and output determinations in other industries. The primary reason for the complication is the:
A. fewness of firms.
B. brand loyalty of consumers.
C. powerful effect of advertising.
D. mutual interdependence of firms.
Answer: D
Economics
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According to the equation of exchange, the money supply times the velocity of money equals the
A) price level. B) growth rate of the money supply. C) real GDP. D) nominal GDP.
Economics
The Clayton Act of 1914 allows those harmed by illegal arrangements to restrain trade to
a. sue for up to two times the damages they incurred. b. sue for up to three times the damages they incurred. c. sue for up to four times the damages they incurred. d. sue for damages, but only for the actual amount of damages they incurred.
Economics