Which of the following factors can delay the entry of new competitive firms into the oligopoly market characterized by a dominant firm and some fringe firms?
a. Mergers and acquisitions
b. Price threat
c. Brandname and reputation of the dominant firm
d. Quality controls set by the government
C
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Real wages usually lag behind the increases in labor productivity.
Answer the following statement true (T) or false (F)
With respect to real per capita incomes, the United States' position
a. as leader has reversed with the United Kingdom since 1980. b. as leader has reversed with Canada since 1980. c. as leader has reversed with Sweden since 1980. d. has not changed much since 1980.
For a firm in monopolistic? competition, selling costs
A) increase costs and reduce profits.
B) always increase demand.
C) can change the quantity produced and lower the average total cost.
D) can lower total cost.
E) have no effect on the quantity sold.
Given a linear demand function of the form QXd = 100 - 0.5PX, find the inverse linear demand function.
A. PX = 200 - 2QX. B. PX = 100 - 0.5QX. C. PX = 100QX - 0.5PX. D. PX = 100 - 2QX.