What determines how much market power a firm has?
What will be an ideal response?
The extent to which a firm can exercise market power is limited by the ease with which consumers can substitute for its product.
Economics
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In the United Sates, the average annual rate of growth of real wages was fastest in the period:
A. 1960-1973. B. 1960-1995. C. 1973-1995. D. 1996-2010.
Economics
Shoe leather costs include the ________ due to the more frequent trips to the bank, the new cash management systems and the expanded employment in banks that inflation causes.
A. bracket creep and redistribution that occur B. time and effort that are used up C. substitution and price adjustment biases that arise D. deflating and indexing that are necessary
Economics