A monopoly will arise if
A) two out of three of a town's pizzerias go out of business and only one new pizzeria opens.
B) the town council passes a law granting Nick's Pizza the exclusive right to operate in that town.
C) Papa Joe's Pizza becomes the largest pizza producer in town and Nick's Pizza stays small in size.
D) several big pizza chains force several small pizzerias out of business.
E) people decide they like pizza more than before so some pizzerias gain new customers.
B
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Income distribution moved toward greater inequality in the 1920s after World War I (1914–18) had witnessed a movement toward greater equality
Indicate whether the statement is true or false
If all the firms producing a good in an industry have market shares that are insignificant, that is, close to zero percent of industry sales,
a. they shut down, that is, go out of business in the long run b. their output levels are close to zero as well c. they are in a perfectly competitive market d. profit is at best zero because cost must be at least greater than zero e. they should advertise