These are all True or False.. I am having a very difficult time with this 31. An example of an oligopoly is the automobile industry
32. If there is only one supplier in a market, that supplier has an oligopoly.
33. A factory which pollutes a river is an example of a negative externality
34. Market equilibrium is established only when the government sets an equaling (fair)
price.
35. Price floors set for a good often result in a surplus of that good.
36. Lack of mobility of resources can create market failure.
37. Variable costs remain the same, whether the factory is closed or operating at capacity
38. The satisfaction a consumer enjoys by purchasing one more unit of a product is called
marginal utility.
39. Government rationing is the way a free market economy allocates goods and services
40. The price that "clears the market" is the equilibrium price