One way the government can introduce competition into a monopoly industry is to:
A. break up the company along different stages of the production process.
B. split it vertically.
C. split it horizontally.
D. All of these statements are true.
D. All of these statements are true.
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Gabriel operates a ranch in Idaho where he raises cattle and grows potatoes. The figure above illustrates his production possibilities frontier. What is Gabriel's opportunity cost of growing another ton of potatoes?
A) 0 cows B) 1 ton of potatoes C) 80 cows D) 400 cows E) 100 cows
You are considering buying a store. In order to better access your return on the investment, your expectations of the return should be based on
a. Days where sales are high, costs are low b. Days where sales are low and costs are high c. Days where both sales and costs are low d. A weighted average of all the above scenarios
A cartel is a group of firms that acts as if it were a monopoly and produces where MR = MC for the industry
Indicate whether the statement is true or false
Consider a theory of discrimination based on the assumption that white employees dislike associating with black employees. Such a theory would predict that
a. blacks will be paid a lower wage than whites. b. the workforce will be heavily segregated. c. white workers will have better capital than black workers. d. black unemployment will be higher than white unemployment.