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Before World War II, Alcoa controlled the supply of bauxite in the United States. Because bauxite is a scarce resource that is vital to the production of aluminum:
a. Alcoa can be said to have operated a monopolistically competitive market.
b. Alcoa was altruistic and willing to share its bauxite with other aluminum firms.
c. Alcoa had a monopoly in the U.S. aluminum market.
d. Alcoa was bound to charge a nominal price in the U.S. aluminum market.
e. the U.S. aluminum market was highly competitive.
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q. 1. an investor buys a property for 1 million with 40 of the purchase price attributable to the land and the balance
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The EU is the biggest common market worldwide. Please name the most important facts that describe the size and importance of this market.
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