Oligopoly can arise from:
a. diseconomies of scale in production.
b. limited demand for a product in the market.
c. government regulations.
d. easy availability of the crucial inputs.
e. reduction of trade barriers.
c
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This factor contributes to the winner's curse
a. your estimate of the value of the object was not the most optimistic b. your bid was not the highest c. there were many other bidders that you beat out d. you shaded your bid too much
Which of the following productive resources is considered ‘fundamentally different’ from other resources with respect to supply and diminishing returns?
A. labor. B. land. C. physical capital. D. technology.
An agricultural price support is an example of a price ceiling
Indicate whether the statement is true or false
In which part of the business cycle is the Federal Reserve most likely to increase the discount rate to discourage banks from borrowing?
A) trough B) expansion C) peak D) recession E) depression