In a contestable market the Herfindahl-Hirschman Index is ________ and the market behaves as if it is ________
A) low; perfectly competitive
B) low; a monopoly
C) high; perfectly competitive
D) high; a monopoly
C
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During a period of expansionary monetary policy
A) the price level is increased, which leads to an increase in the money supply. B) the price level is decreased, which leads to a decrease in the money supply. C) the rate of growth of the money supply is increased, leading to an increase in the price level. D) the rate of growth of the money supply is reduced, leading to a decrease in the price level.
Fast Stop, a gasoline and grocery quick mart, charges $3 for one hot dog and $5 for two hot dogs. This is an example of ________.
A) an all-or-nothing offer B) third-degree price discrimination C) second-degree price discrimination D) two-part pricing