All of the following are arguments to have less antitrust enforcement except for
A. There is always a chance that new innovators will replace oligopoly firms.
B. Companies become large because they are successful in satisfying consumer demand.
C. Global competitors put pressure on U.S. oligopoly industries.
D. Oligopolies can lead to less output and higher prices.
Answer: D
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A) a marginal B) an internal C) an external D) a nonessential E) a subsidized
The rational expectations hypothesis means that
A) economic agents can predict the future. B) economic agents do not make systematic errors. C) everyone expects everyone else to act rationally. D) economic agents reason with expectations.
________: the technically efficient combination of two products a business can produce in the current period given its existing resources and technology
Fill in the blank(s) with correct word
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