All else equal, two firms in a Chamberlin oligopoly will charge a ________ price than two firms in a Cournot oligopoly and earn ________ economic profit.
A) higher; less B) higher; more C) lower; more D) lower; less
B) higher; more
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Government attempts to prohibit monopolization of a market are known as
a. antitrust regulation b. economic regulation c. social regulation d. anticompetitive regulation e. Herfindahl regulation
Two variables that are inversely related tend to move in opposite directions
a. True b. False Indicate whether the statement is true or false
An individual would suffer higher losses from an unexpectedly higher inflation rate if
a. she held much currency and owned few bonds. b. she held much currency and owned many bonds. c. she held little currency and owned few bonds. d. she held little currency and owned many bonds.
What is the relationship between the Sherman Antitrust Act and the Clayton Act?
A) The Clayton Act was the first act passed and the Sherman Antitrust Act was the second. B) The Sherman Antitrust Act encouraged competition among firms in the U.S. while the Clayton Act encouraged competition among foreign firms. C) The Clayton Act strengthened the Sherman Antitrust Act by limiting some very specific business practices. D) Both Acts deal with issues of setting price and quantity for regulated industries.