The outcome of a competitive oligopoly:
A. is less efficient than that of colluding oligopolists.
B. is more efficient than that of a perfectly competitive outcome.
C. is more efficient than that of a monopolist.
D. is less efficient than that of a monopolist.
C. is more efficient than that of a monopolist.
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In the two-gap model, which of the following gaps, when binding, leads to foreign aid having the largest impact on GNP?
(a) Fiscal gap. (b) Savings gap. (c) Foreign exchange gap. (d) None of the above.
?Which of the following is an advantage of panel data?
A. ?We can difference the dependent variable, y, across time for different cross-sectional units. B. ?We can add the dependent variable, y, across time for different cross-sectional units. C. ?We can difference the dependent variable, y, across time for the same cross-sectional units. D. ?We can add the dependent variable, y, across time for the same cross-sectional units.
Changes in taxes and transfers affect planned spending:
A. indirectly, by changing disposable income and, consequently, consumption. B. directly, by changing induced expenditures. C. autonomously. D. only when there is an expansionary gap.
The same factors that lead to a change in quantity demanded also cause a change in demand.
a. true b. false