All of the following are characteristics of an oligopoly EXCEPT
A) diseconomies of scale over all ranges of output.
B) small number of firms.
C) high barriers to entry.
D) interdependence.
A
Economics
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Gross public debt is the amount of funds that
A) U.S. residents owe to foreign residents. B) the federal government owes to all holders of U.S. securities. C) the federal government owes to taxpayers. D) states owe to the federal government.
Economics
Demand for a luxury item, such as a yacht, is likely to be
A) income elastic and price inelastic. B) income inelastic and price elastic. C) both income elastic and price elastic. D) both income inelastic and price inelastic.
Economics