Which of the following is most likely to contribute to the presence of monopoly in an industry?
a. economies of scale
b. an elastic market demand for the product produced by the industry
c. inefficiency due to bureaucratic decision-making procedures in the industry
d. controlling over 50 percent of the market
A
Economics
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Refer to the figure above. What is the equilibrium quantity after the demand curve shifts to D2?
A) 20 units B) 30 units C) 35 units D) 50 units
Economics
Which of the following would shift the production possibilities frontier outward?
a. a reduction in inefficiency b. a reduction in the size of the labor force c. an improvement in technology d. a change in the combination of goods produced e. increasing opportunity costs
Economics