An industry comprised of four firms, each with about 25 percent of the total market for a product, is an example of:

A. monopolistic competition.
B. oligopoly.
C. pure monopoly.
D. pure competition.

Answer: B

Economics

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Zoran, a Croatian citizen, only works in the United States. The value added to production from his employment is:

A) included in Croatian GDP. B) included only in U.S. GDP. C) included only in U.S. GNP. D) not included in either U.S. GDP or U.S. GNP.

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The protection of property rights leads to

A) more poverty. B) more illiteracy. C) more capital formation. D) unemployment.

Economics