An oligopoly created because of economies of scale is called a
A) natural oligopoly.
B) legal oligopoly.
C) public oligopoly.
D) monopolistic oligopoly.
E) scale oligopoly.
A
You might also like to view...
A closed economy
a. does not engage in international trade of goods and services. b. does not engage in international borrowing or lending. c. both A and B d. engages in international borrowing and lending.
What are the consequences of a firm exercising monopoly power?
A. Higher price and larger quantity sold. B. Higher price and smaller quantity sold. C. Lower price and larger quantity sold. D. Lower price and smaller quantity sold.
The total utility of a consumer diminishes whenever:
a. he or she buys an additional unit of a good. b. his or her marginal utility decreases. c. his or her total utility increases at a decreasing rate. d. the last unit consumed of a particular good is distasteful or provides dissatisfaction. e. other consumers are also purchasing the product.
Economists generally prefer greater effort made to force internalization of externalities through taxes rather than using alternative approaches, such as establishing pollution standards
a. True b. False Indicate whether the statement is true or false