It is easy to discern the difference between vigorous competition and the exercise of monopoly power
a. True
b. False
Indicate whether the statement is true or false
False
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In the figure above
A) moving from point a to point b would require new technology. B) production at point b is efficient whereas production at point a is not efficient. C) some resources must be unemployed at point c. D) opportunity costs are decreasing.
Which statement explains why monopolists are not productively efficient?
a. Monopolists do not produce at the minimum of the average cost curve. b. Monopolists produce at the quantity where P = MC. c. Monopolists spend too much on developing innovative products. d. Monopolists produce too many goods at a lower average cost.
If the interest rate is 12.5 percent, what is the present value of $200 received in one year?
A. $197 B. $225 C. $177.78 D. $25
A duopoly is an industry with:
A. one firm. B. two firms. C. many firms that sell slightly differentiated products. D. many firms that sell identical products.