An oligopoly with a dominant price leader will produce an output level that is ________ than the output level that would prevail if the industry were competitive and sells it at a price that is ________ than the price that would prevail if the industry were competitive.
A. lower; higher
B. higher; higher
C. higher; lower
D. lower; lower
Answer: A
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Which of the following is one source of disagreement between economists?
A. Some facts about the economy are unknown. B. Economists differ in their political persuasions. C. Economic theory may not always give an unambiguous answer to a question. D. Solving one problem may make another problem worse. E. All of these responses are correct.
If a firm goes bankrupt, the bondholders will get paid back before the stockholders get any money.
Answer the following statement true (T) or false (F)
The primary tool used by the Federal Reserve to change the money supply is _____
Fill in the blank(s) with correct word
Creating economic growth:
A. is an easy thing for policy-makers to achieve with correct taxation policy. B. is well understood by macroeconomists. C. involves savings, capital, labor, and technology. D. has no central tenets upon which the theory is based.