Splitting up a monopoly is often justified on the grounds that
a. consumers prefer dealing with small firms
b. small firms have lower costs
c. competition is inherently efficient
d. nationalization is a less preferred option
e. monopolies are inevitable and desirable
C
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The academic work of Ben Bernanke, recent Chairman of the Board of Governors of the Federal Reserve System, suggests that he is a firm advocate of ________
A) fixed exchange rates B) inflation targeting C) decreased central bank transparency D) nominal GDP targeting
Which of the following is a store of value?
a. Passbook savings deposit b. Federal Reserve notes c. Debit card d. Each of the answers is a store of value.
Suppose that you are a manager. You are considering whether or not to monitor employees with the payoffs in the normal-form game shown below.ManagerWorker??WorkShirk?Monitor-1,11,-1?Don't Monitor1,-1-1,1What should the manager do to solve the shirking problem?
A. Never monitor. B. Always monitor. C. Engage in "random" spot checks of the workplace. D. Sincerely tell workers not to shirk.
Which of the following will not cause a shift in the demand for resource X?
A. an increase in the productivity of resource X B. a decrease in the price of substitute resource Y C. an increase in the price of the product resource X is producing D. a decline in the price of resource X