By keeping new firms from entering the market, oligopolies are more likely to have
a. long-run economic profit
b. low prices
c. great efficiency
d. decreasing marginal costs
e. economies of scale
A
Economics
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Along a straight-line demand curve, as the price falls the
A) demand becomes more elastic. B) demand becomes less elastic. C) elasticity of demand is constant. D) demand is always unitary elastic.
Economics
What type of policies did Adam Smith attack in his book, An Inquiry into the Nature and Causes of the Wealth of Nations?
What will be an ideal response?
Economics