Compared to a competitive market with the same long-run costs and market demand, a monopolist has:
A.) Less pressure to reduce costs and less incentive to improve quality.
B.) Less pressure to reduce costs and more incentive to improve quality.
C.) More pressure to reduce costs and less incentive to improve quality.
D.) More pressure to reduce costs and more incentive to improve quality.
A.) Less pressure to reduce costs and less incentive to improve quality.
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Using the data in the above table, what is the value of net exports?
A) -$181 billion B) $181 billion C) $957 billion D) -$957 billion
Efficient voting outcomes would assign weights to each vote that are:
A) equal. B) egalitarian. C) higher for the median voter and lower for other voters. D) proportional to the voter's strength of preference.
Measured as a share of GDP, the total federal debt
a. increased during the 1990s, but it has declined substantially during the most recent decade. b. increased substantially during the recession of 2008-2009, but it is still well below the levels of the 1960s and 1970s. c. has steadily trended downward during both the 1990s and the most recent decade. d. is now approximately 100 percent of GDP, which is higher than at any time since the years immediately following World War II.
An increase in the demand for a product will cause
a. both the demand for and prices of the resources used to produce the product to decline. b. both the demand for and prices of the resources used to produce the product to increase. c. the demand for the resources used to produce the product to increase and their prices to decline. d. the demand for the resources used to produce the product to decline and their prices to increase.