Oligopolies that produce identical products such as steel have
A. no control over the price of their product because of the availability of perfect substitutes.
B. no control over the price of their product because of the large number of buyers in the market.
C. some control over the price of their product because each firm sells a substantial share of the market.
D. some control over the price of their product because of the small number of buyers in the market.
C. some control over the price of their product because each firm sells a substantial share of the market.
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Refer to the graph below.
If the production possibility curve shifts along the Good Y axis, which point will remain as a point of efficiency?
A. A B. B C. C D. D
In 2008, the financial and housing crisis caused firms to decrease their profit expectations. As a result, there was a ________ in the ________ for loanable funds curve
A) leftward shift; demand B) movement upward along; demand C) leftward shift; supply D) movement downward along; supply