In an oligopoly market
A) individual firms pay no attention to the behavior of other firms.
B) one firm's pricing decision affects all the other firms.
C) the pricing decisions of all other firms have no effect on an individual firm.
D) advertising of one firm has no effect on all other firms.
B
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What is the "Hotelling rule" for a monopolist?
A) Price minus marginal cost must rise at exactly the rate of interest. B) Price plus marginal cost must rise at exactly the rate of interest. C) Marginal revenue minus marginal cost must rise at exactly the rate of interest. D) Marginal revenue and marginal cost must be independent of the rate of interest.
The federal government receives most of its revenue from three sources: personal income tax, corporate income tax, and payroll tax
a. True b. False Indicate whether the statement is true or false