Can someone check my answer . I choose C, A,D ,A AND A The demand for labor is described as a derived demand becasue a.

Can someone check my answer .

I choose C, A,D ,A AND A

The demand for labor is described as a derived demand becasue

a.it is derived by government institutions which rely on labor markets for the purpose of raising tax revenue

b.it is derived by producers seeking to make profits by starting new businesses

c.it is dervied from the demand for products

d.it is dervied by workers seeking to earn income to fund the consumption of goods and services

Collusion between two firms occurs when

a.firms explicitly or implicitly agree to adopt a uniform buisness strategy

b.firms act in ways to bring about the economically efficient outcome

c.firms independently pursue startegies that could hurt each other

d.firms ignore each other

A dominant strategy

a.involves colluding with rivals to maximize profits

b.is one that a firm is forced into following by government policy

c.involves deciding what to do after all rivals have chosen their strategies

d.is one that is best for the firm, no matter what strategies other firms use

A characteristic found only in oligopolies is

a.interdependence of firms

b.independence of firms

c.break even level of profits

d.products that are slightly different

Which of the following most closely represents the conditions of monopolistic competition?

a.the restaurant industry, which is characterized by many firms producing differentiated products with free entry and exit

b.a cable television service, where a licensed supplier provides service to a local community

c.the market for grade A milk, which is characterized by many firms producing an identical product

d.the market for jumbo jets, where one major domestic firm competes with one major foreign firm

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