Rivalry among firms would tend to be high if
a. There is a small number of firms in the market
b. There is a large number of firms in the market
c. There is only one firm in the market
d. None of the above
b
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A key factor that determines the geographic extent of a housing market is the distance that commuters are willing to travel from home to work
Which of the following events would NOT help to expand the geographic extent of the housing market in a metropolitan area? A) Price of gasoline declines B) State gasoline tax increases C) Public transit fares decrease D) none of the above
All of the following explain the downward slope of the aggregate demand curve EXCEPT
A) changes in the stock of real wealth held by individuals. B) the effect of changing interest rates on the quantity demanded of interest-rate-sensitive goods. C) the availability of foreign substitute goods. D) the presence of unused production capacity and unemployment.