In an oligopolistic industry where the oligopolists collude, the price firms charge would be ________, and the quantity they produce would be ________, if the industry was a monopoly.
A. the same as; the same as
B. lower than; lower than
C. higher than; higher than
D. higher than; lower than
Answer: A
You might also like to view...
In the one-input model, the marginal product of labor curve falls below the horizontal axis only if the production frontier slopes down.
Answer the following statement true (T) or false (F)
A citizen who acquires good information about the candidates before voting in a presidential election thereby
A) imposes spillover costs on all other registered voters. B) increases the probability others will also acquire information before voting. C) incurs a substantial cost; yet, his vote no discernible effect on the election. D) makes it much more likely a candidate will be elected who will promote that voter's interests. E) makes it much more likely a good candidate will be elected.
The U.S. terminated its role in the slave trade in the early 1800s. What is the best assessment of what would have happened had the U.S. not ended the slave trade?
a. The price of slaves would be lower and the wages of free workers would be lower. b. The price of slaves would be higher and the quantity of free workers would be lower. c. The price of slaves would be lower and the wages of free workers would be higher. d. The quantity of slaves would be higher and the quantity of free workers would be higher. e. The quantity of slaves would be lower and the wages of free workers would be lower.
Monopolies will tend to produce a greater quantity and charge higher prices than perfectly competitive industries
a. True b. False Indicate whether the statement is true or false