As the number of firms in an oligopoly increases, the magnitude of the
a. output effect increases.
b. output effect decreases.
c. price effect increases.
d. price effect decreases.
d
You might also like to view...
Which of the following increases in labor demand is due to a change in the product demand?
A. A decrease in the price of trucks decreases the cost of transporting goods, thus increasing the demand for truckers. B. Tourism increases in popularity, increasing the demand for workers at tourist resorts. C. A change in work rules increases output per worker in the auto industry, thus increasing the demand for auto workers. D. Access to computers increases the productivity of mail order businesses, thus increasing the demand for their workers.
Consider GDP calculated according to the expenditures approach. Which of the following components of GDP would need to decrease for GDP to increase?
a. Imports b. Consumption c. Exports d. Investment e. Government spending
What do economists call the per-unit cost of operation?
a. average total cost b. average fixed cost c. average variable cost d. average sunk cost
Which statement is false?
A. Between 1789 and 1812 the United States' population doubled. B. Between 1812 and 1835 the United States' population doubled. C. Between 1835 and 1858 the United States' population doubled. D. None of the statements are false.