1. the level of competition least beneficial to business owners is? a. oligopoly

Question

1. the level of competition least beneficial to business owners is?
a. oligopoly
b. monopoly
c. pure competition
d. monopolistic competition

2. pure competition is a market structure that has
a. few competitive firms with the same products
b. many sellers with differentiated products.
c. a perfectly elastic demand curve
d. one seller

3.stacy owns a hair salon and haircuts cuts are $20. she charges hairdressers $10 per hour to rent a chair and serve clients. what is the minimum number of haircuts a hairdresser should give per hour to earn money at Stacy's salon.
a. 2
b. 3
c. 4
d.5

4. The term for a situation in which inflation rate rises significantly faster than income is
a. stagflation
b. hyperinflation
c. deflation
d. negative inflation

5. explain why United States imports oil, despite the fact that there is oil in the United states. use the principle of comparitive advantage. minimum sentences.

Explanation / Answer

1.

c. pure competition

as Firms have little to no control of the market.

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