A duopoly is a market structure in which:
a. two consumers buy the product.
b. two firms sell the product.
c. one firm sells the product and one consumer buys the product.
d. two firms sell the product and two consumers buy the product.
Ans: b. two firms sell the product.
Economics
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If the dollar depreciates, it can be said that
A. foreign countries no longer respect the United States. B. it falls in value within the United States. C. it takes fewer dollars to buy foreign currencies. D. other currencies appreciate.
Economics
Figure 7-2
In Figure 7-2, at an output of 500, marginal cost equals
A. 10. B. 20. C. 30. D. 40.
Economics