Long distance telephone service has become a competitive market. The average cost per call is $0.05 a minute, and it's declining. The likely reason for the declining price for long distance service is:
a. Governmental pressure to lower the price
b. Reduced demand for long distance service
c. Entry into this industry pushes prices down
d. Lower price for a barrel of crude oil
e. Increased cost of providing long distance service
c
Economics
You might also like to view...
Why is the short-run demand curve for labor downward sloping?
What will be an ideal response?
Economics
If people speculate that a run on one bank will cause a run on all banks in the financial system, and this speculation proves accurate, then the financial system would experience what is known as a
A) commodity crisis. B) securitization meltdown. C) bank panic. D) institutional death spiral.
Economics