Which of the following factors would be the most useful in determining the structure of a market?
a. the number of firms in the market
b. the price of the product sold in the market
c. the size of the physical structure
d. the geographical dispersion of the market
e. the age of the market
A
You might also like to view...
For a monopolist, as output expands, price and marginal revenue become more divergent (i.e., are farther apart)
a. True b. False
Suppose that the installation, operating, and maintenance costs of a large wind turbine is four times that of a small turbine and has four times the generating capacity. The wind power industry faces:
A. constant returns to scale. B. economies of scale. C. increasing marginal cost. D. diseconomies of scale.
The average tax rate required to service the public debt is roughly measured by:
A. the absolute size of the debt. B. the debt as a fraction of the GDP. C. interest on the debt as a percentage of the GDP. D. the ratio of government spending to the GDP.
Refer to Figure 13-19 to answer the following questions
a. What is the productively efficient output? b. What is the allocatively efficient output? c. What is the amount of excess capacity? d. Suppose the firm is currently producing 14 units. What happens if it increases output to 17 units?