A "sticky price" model has its primary characteristic (i.e., sticky prices) due to
a. barriers to entry
b. a monopoly situation
c. differentiated products
d. too many competitors
e. a gap in marginal revenue curve
E
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A slope is measured as the
A) value of the variable measured on the y-axis divided by the value of the variable measured on the x-axis. B) value of the variable measured on the x-axis divided by the value of the variable measured on the y-axis. C) change in the value of variable on the y-axis divided by the change in the value of the variable on the x-axis. D) value of the variable measured on the y-axis minus the value of the variable measured on the x-axis. E) value of the variable measured on the x-axis minus the value of the variable measured on the y-axis.
It is true of externalities that they
a. are always detrimental. b. are always beneficial. c. arise when all costs, social and private, are included in production cost. d. cause the price system to misallocate resources.