A firm in an oligopoly is similar to a monopoly in that:
A. Both firms do not face competition from others
B. Both firms could have significant market power and control over price
C. Both firms face very inelastic demand for their products
D. Both firms do not need to advertize
B. Both firms could have significant market power and control over price
Economics
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To make agreements that create value and can be enforced, the parties' underlying rights must be clearly defined in the contract
Indicate whether the statement is true or false
Economics
The money supply is 1,500 of which 500 is currency held by the public. Bank reserves are 200. The existing reserve/deposit ratio equals:
A. 0.15 B. 0.20 C. 0.10 D. 0.05
Economics