Competition is more likely to exist when:
A. there is free entry into and exit out of industries.
B. products are produced by a few large firms.
C. there is a single supplier of all goods and services.
D. the government purchases most goods and services.
Answer: A
Economics
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Refer to the scenario above. What is the present value of the gift voucher for Susan?
A) 30 utils B) 45 utils C) 90 utils D) 180 utils
Economics
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.
Economics