In a Small Town the Level of Demand Is Capable

question 266

Multiple Choice

In a small town the level of demand is capable of supporting only two gas stations. This market is

• A) a natural duopoly.
• B) perfectly competitive because a homogeneous good is being sold.
• C) operating as if it was a monopoly.
• D) an example of monopolistic competition.

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Definitions:

Folic Acid

A type of B vitamin important for cell growth, DNA synthesis, and the prevention of certain birth defects.

Diet

The combination of food and drink that a person regularly consumes, often considered in the context of nutritional quality and effects on health.

Placenta

An organ that develops in the uterus during pregnancy, providing oxygen and nutrients to the growing baby and removing waste products.

Labor

The process of working or the effort expended on a particular task; also refers to childbirth process.