In general, economists are critical of monopoly where there is (are):
A. no natural monopoly.
B. persistent economies of scale.
C. only a few firms.
D. a natural monopoly.
A. no natural monopoly.
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Indicate whether the statement is true or false
Entry of new firms in monopolistically competitive industries can convey a positive externality on consumers because new products result in more consumer surplus. This externality is called the
Which of the following is a source of wage stickiness?
1. fixed wage contracts 2. minimum wage laws 3. workers and firms want to avoid complexity of negotiating contracts frequently A. I and III only B. I and II only C. I only D. I, II, and III
A currency depreciation is inflationary and probably also expansionary.
Answer the following statement true (T) or false (F)