Monopolies and oligopolies both erect barriers to entry through the use of
A) price cutting.
B) patents.
C) franchising.
D) advertising.
B
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Allocative efficiency
a. is important for economic theory but not relevant to environmental policy b. calls for the equality of additional benefits and additional costs c. is automatically achieved when cost-effectiveness is achieved d. requires that the total costs to society linked to environmental policy are equivalent to the associated total benefits
Even though prices may change frequently, they can be expected to gravitate toward equilibrium.
Answer the following statement true (T) or false (F)
incentives
What will be an ideal response?
An industry consists of five firms with annual sales of $130, $50, $40, $10 and $60. What is the industry's HHI?
A. 10,000 B. 5,654 C. 2,937 D. There is not sufficient information to compute the industry HHI.