In a small town the level of demand is capable of supporting only two gas stations. This market is
A) a natural duopoly.
B) perfectly competitive because a homogeneous good is being sold.
C) operating as if it was a monopoly.
D) an example of monopolistic competition.
A
Economics
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Which of the following was established first?
a. gatt b. nafta c. wto d. a and b were established at the same time
Economics
For a two-part tariff imposed on two consumers, the entry fee is based on the:
A) consumer surplus of the customer with lower willingness-to-pay. B) consumer surplus of the customer with higher willingness-to-pay. C) simple average of the consumer surplus for the two buyers. D) none of the above
Economics