An oligopoly is a market dominated by a few sellers.

One determinant of the derived demand for a resource is the

a. price of the product made using the resource b. extra cost of the resource c. marginal resource cost of the resource d. availability of the resource in the marketplace e. quantity of the resource demanded

The economic way of thinking stresses that

a. changes in personal costs and benefits generally fail to exert much impact on behavior. b. incentives matter--individuals respond in predictable ways to changes in personal costs and benefits. c. if one individual gains from an economic activity, then someone else must lose and in the same proportion. d. if a good is provided by the government, its production will not consume valuable scarce resources.