If a product provides a positive externality, a duopoly
A) will provide more social welfare than a monopoly.
B) will provide less social welfare than a monopoly.
C) will provide the same social welfare as a monopoly.
D) introduces an interesting and untested twist to the externality story.
A
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Which of the following is NOT a major actor in the foreign exchange market?
A) corporations B) central banks C) commercial banks D) non-bank financial institutions E) tourists
At age 40, Joe is considering quitting his job and going back for a college degree. He needs two more years full-time. Tuition is $10,000 per year. He earns $30,000 per year. A college degree would raise his annual income by $10,000 per year. He will retire at age 70. Which of the following makes it less likely that Joe will decide to go back to college full-time?
A) The extra income due to a college degree rises. B) The rate of interest decreases. C) The government enacts mandatory retirement at age 60. D) Tuition decreases.