When a city licenses only 3 taxi firms to serve the market, the city has created a
A) cartel.
B) legal monopoly.
C) monopolistically competitive market.
D) legal oligopoly.
E) natural oligopoly.
D
Economics
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Bartholomeu Dias was one of the leading explorers from _____
a. England b. France c. Holland d. Portugal e. Spain
Economics
Answer the following questions true (T) or false (F)
1. At a long-run macroeconomic equilibrium, real GDP is always equal to potential GDP. 2. Stagflation occurs when short-run aggregate supply decreases. 3. An increase in government spending will result in an increase in the price level and an increase in real GDP in the long run.
Economics