How would many economists view inefficiency in oligopoly?
A. P > MC and P > minimum ATC
B. P = MC and P > minimum ATC
C. P = MC and P = minimum ATC
D. P > MC and P = minimum ATC
Answer: A
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If suppliers expect an increase in price, they will reduce the current supply of a good
a. True b. False
Which of the following are illegal under the antitrust laws of the United States?
a. charging prices that exceed average total costs b. charging some consumers different prices than others c. mergers that unnecessarily create excessively large firms d. collusive behavior or other actions designed to create a monopoly or cartel
When the purchasing power of money is stable and predictable, this
What will be an ideal response?
The most recent agreement in which participating nations agreed to reduce their overall emissions of greenhouse gases was
A. the 2001 Doha Round of climate change. B. the 2015 Paris Agreement on Climate Change C. the 1987-1993 Uruguay Round of climate change D. the 1997 Kyoto Protocol on climate change.