A monopoly firm’s supply curve
A. has a supply curve identical to that for a perfectly competitive firm.
B. is always equal to marginal cost.
C. does not exist.
D. is determined by market demand.
Answer: C
Economics
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In economics, the term physical capital
A) refers to funds used by businesses to acquire goods and services. B) refers to all manufactured resources used for production. C) refers to the process of raising funds through the stock market. D) defines the stock of merchandise already produced.
Economics
Which does NOT cause an industry that might otherwise be competitive to tend toward oligopoly?
A) economies of scale B) barriers to entry C) mergers D) strategic independence
Economics