Which of the following markets is likely to be a monopoly?
A) The market for patented nuclear medicines
B) The market for wheat
C) The market for smart phones
D) The market for shower gel
A
Economics
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Winnie's Car Wash is a perfectly competitive firm. The table above shows Winnie's total product schedule. If the price of a car wash is $4 and the wage rate is $70 per day, how many workers should Winnie employ to maximize his profit?
A) 1 B) 2 C) 3 D) 4
Economics
Under the Bretton Woods system, a country could alter its exchange rate
A) by changing its value relative to gold. B) whenever it determined that there was a fundamental disequilibrium. C) only when the IMF permitted due to a fundamental disequilibrium. D) under no circumstances.
Economics