Monopoly firms in contestable markets view the major threat to an exploitation of monopoly power to be
a. government regulation
b. antitrust policy
c. nationalization
d. laissez-faire
e. the competition from new entrants
E
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The Law of Supply states that:
A) supply creates its own demand. B) the quantity supplied of a good will always equal the quantity of the good demanded. C) the quantity supplied of a good rises when the price rises. D) at the equilibrium price, there is always some excess supply in the market.
If a price floor is removed, which of the following would be a result?
A. The elimination of surpluses B. Problems with the disposal of goods C. Disguised discounts to sell additional goods are offered by sellers D. Overinvestment in the industry
Which of the following will not shift the aggregate demand curve to the right?
a. Consumers becoming more optimistic about the future. b. An increase in government spending. c. Business optimism increases. d. Consumers become pessimistic about the future.
Microeconomics includes the study of:
A. a firm's pricing policies. B. inflation. C. business cycles. D. unemployment.