The outputs of an oligopolistic industry
A) can be homogeneous or differentiated.
B) must cost above $100 on the market.
C) always have excise taxes imposed on them.
D) have no substitutes on the market.
A
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Use the figure below to answer the following question.
If the output level is Q2, then there will be
A. minimum net producer surplus. B. greater marginal benefits than marginal costs of the product. C. productive efficiency. D. maximum deadweight losses.
Describe the prisoners' dilemma game and explain why the Nash equilibrium delivers a bad outcome for both players
What will be an ideal response?
What act of Congress declared restraint of trade illegal and declared any attempt at monopolizing unlawful?
a. Celler-Kefauver Act. b. Sherman Antitrust Act. c. Clayton Act. d. Robinson-Patman Act.
Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential