Oligopoly differs from monopolistic competition in that an oligopoly includes
A) product differentiation.
B) barriers to entry.
C) no barriers to entry.
D) downward-sloping demand curves facing the firm.
B
Economics
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In the case of a negative externality, in order to achieve efficiency the government must set the _________________ equal to the marginal ____________________.
A. tax; external costs B. tax; external benefits C. subsidy; external costs D. subsidy; external benefits E. tax; private costs
Economics
The central goal of the General Agreement on Tariffs and Trade (GATT) was to:
A. promote free trade associations and customs unions. B. reduce trade barriers. C. promote international security. D. ensure a balance of trade between countries.
Economics