Characteristics shared by monopolistically competitive markets and monopoly markets include:
a. strategic interactions among sellers
b. many sellers.
c. firms facing a downward-sloping demand curve.
d. insignificant barriers to entry.
c
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In the above figure, the economy is at point a on the initial supply of loanable funds curve SLF0. What happens if real wealth decreases?
A) Nothing; the economy would remain at point a. B) There would be a movement to a point such as b on supply of loanable funds curve SLF0. C) The supply of loanable funds curve would shift rightward to a curve such as SLF2. D) The supply of loanable funds curve would shift leftward to a curve such as SLF1.
A cooperative equilibrium is most likely to arise in a
A) single-play game with a large number of players. B) single-play game without communication. C) repeated game with a large number of players. D) repeated game with a small number of players.