Which of the following explains why monopoly is uncommon in the real world?
a. firms usually face downward-sloping demand curves.
b. supply curves slope upward.
c. price is usually set equal to marginal cost by firms.
d. there are reasonable substitutes for most goods.
D
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Why did the United States suspend its preferential trade treatment for Bangladesh in 2013?
a. The United States wanted to collect more tariff revenue on all imports from Bangladesh. b. The United States wanted to punish Bangladesh for its poor labor practices. c. The United States wanted to collect more tariff revenue on imports other than garments from Bangladesh d. The United States wanted to force Bangladesh to join NAFTA.
If the price of a pizza is $10 per pizza, the consumer surplus from the first pizza consumed ________ the consumer surplus from the second pizza consumed
A) is greater than B) equals C) is less than D) cannot be compared to E) None of the above answers is correct because more information is needed about the marginal cost of producing the pizzas to answer the question.