As the number of sellers in an oligopoly becomes very large,
a. the quantity of output approaches the socially efficient quantity.
b. the price approaches marginal cost.
c. the price effect is diminished.
d. All of the above are correct.
d
You might also like to view...
In perfect competition, marginal revenue
A) increases as more is sold. B) decreases as more is sold. C) is equal to the market price. D) is zero. E) is always greater than marginal cost.
There are many policies that can discipline market power, but often the most powerful discipline comes from potential consumers. ?
Answer the following statement true (T) or false (F)
Suppose the government has a budget deficit of $2 billion. If the Ricardo-Barro effect is correct, then how much crowding out of investment occurs?
A) exactly equal to $2 billion dollars
B) more than $2 billion
C) some crowding out occurs, but less than $2 billion
D) No crowding out occurs and investment does not change.
E) No crowding out occurs because investment increases by $2 billion.
The FDIC currently insures each bank account up to what level?
A) $10,000 B) $50,000 C) $250,000 D) $150,000