From the social perspective, a major criticism of oligopolies is that
A) successful collusion leads to a monopoly-like outcome.
B) price wars usually break out.
C) advertising hardly ever occurs.
D) cartels are unstable.
A
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Explain what is meant by the term production
What will be an ideal response?
The Law of Supply ensures that supply curves slope upward
Indicate whether the statement is true or false
In a long-run perfectly competitive equilibrium
A. P = MR > MC = ATC. B. P = MR = MC = ATC. C. P = MR = MC > ATC. D. P > MR > MC = ATC.
Use the IS-LM model to determine the effects of each of the following on the general equilibrium values of the real wage, employment, output, the real interest rate, consumption, investment, and the price level.(a)Tougher immigration laws reduce the working-age population.(b)There's increased volatility in the prices of stocks and bonds.(c)The government tries to achieve tax equity by an increase in the corporate tax rate.(d)Increased computerization reduces stock market brokerage costs.
What will be an ideal response?