If large, dominant firms tend to be more successful and last longer than small, non-dominant firms, it would be because:
A) the large firm can dictate what it wants to consumers and to its suppliers.
B) the large, dominant firm is able to offer more products at lower prices.
C) the large, dominant firm has an advantage in its costs or in being able to meet customer wants.
D) the small firm is a risk-taker and typically is not around for long.
E) the small firm can never compete with the large firm.
C
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Pollution is a cost because it entails the sacrifice of valued opportunities
A) and because the process of creating it confers no benefits on the members of society. B) for some people. C) and reduces the net welfare of society. D) which makes everyone worse off in the long run.
Suppose the labor force in Tiny Town is 100 people. If the ________ in Tiny Town is 150 people, the labor force participation rate equals ________ multiplied by 100
A) working age population; 100/150 B) working age population; 100/250 C) number of employed persons; 100/250 D) number of employed persons; 100/150
List three reasons why a firm might experience economies of scale
What will be an ideal response?
The only gas station within a radius of 200 miles has a
a. geographic monopoly b. government monopoly c. technological monopoly d. natural monopoly