The extent to which a firm is viewed by consumers as being a monopoly depends primarily on
a. how the government defines a monopoly
b. whether they believe there are close substitutes for the good it produces
c. the level of profits earned by the firm
d. the difference between price and marginal cost of the good it produces
e. the size of the firm
B
Economics
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Suppose the market in Figure 9.4 is currently in equilibrium. If the government establishes a price floor of $50, how many widgets will be sold?
A) 20 B) 30 C) 40 D) 50 E) 60
Economics
Which of the following must be included in the calculation of GDP?
a. The sale of a used car to an auto dealer b. Bartering lawn care services for car washes c. A father staying at home to attend to his child d. The sale of an illegal cable box e. Payment made for a SAT preparation class
Economics