The more firms there are in a market, the:
A. more collusion is likely to happen.
B. smaller will be the price effect of one firm's output decision.
C. larger will be the price effect of one firm's output decision.
D. None of these statements is true.
Answer: B
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Hughes and Cain (2011) suggest that an event or series of events occurring in 1763 doomed British policy. What happened?
(a) A series of oppressive taxes (b) A tightening and more rigorous enforcement of the Navigation Acts (c) A proclamation which limited trans-Appalachian settlement to lands once granted to colonists by crown approval (d) An act that gave the Quebec province all the land west of the Ohio River
If View Your World, a high-end window manufacturer, has contracted with local carpenters to install their windows in residential homes, this is an example of ________.
A) a market transaction B) forward integration C) outsourcing D) backward integration
Which of the following is not correct?
a. When developing economic theories, graphs offer a way to visually express ideas that might be less clear if described with equations or words. b. Graphs are one way of expressing the relationships among variables. c. When studying the relationship between two economic variables, graphs allow economists to draw indisputable conclusions about causes and effects. d. When analyzing economic data, graphs provide a powerful way of finding and interpreting patterns.
Capital Resources
What will be an ideal response?