The term oligopoly is highly ambiguous in the absence of
A) a clear and defensible definition of the product.
B) a clear price structure.
C) a definition of marginal cost.
D) accounting rules adequately defining net revenue.
E) clear distinctions between competitive and noncompetitive industries.
A
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Which of the following is included in Germany's GDP?
i. BMWs produced in a German-owned factory in South Carolina ii. the value of the stocks sold on the German stock exchange, the Frankfurt Stock Exchange iii. china produced by the English-owned Wedgewood Company at a factory in Berlin, Germany A) i and iii B) ii only C) iii only D) i and ii E) None of the above answers is correct.
At point e in the above figure, the marginal product of labor
A) is less than the average product of labor. B) equals the average product of labor. C) is greater than the average product of labor. D) is at its maximum.