Which of the following statements is correct??
A. The fact that the firms in an oligopoly are mutually interdependent means that individual firms do not have any market power.
B. All else? constant, a monopoly firm has more market power than a monopolistically competitive firm.
C. The amount of market power a firm possesses is unrelated to the type of market in which it operates.
D. So long as a firm is sufficiently? large, it will have some amount of market? power, regardless of the type of market in which it operates.
Answer: B. All else? constant, a monopoly firm has more market power than a monopolistically competitive firm
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Refer to the scenario above. Suppose a country is currently at point C. Which of the following will happen if it experiences an improvement in technology?
A) It will move from point C towards point D. B) The curve will shift upward. C) It will move from point C toward point A. D) The curve will shift downward.
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a. True b. False Indicate whether the statement is true or false
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A. create unnecessary unemployment. B. shift in labor supply curve leftward. C. decrease the marginal product of labor. D. reduce management's use of featherbedding.