Using anti-trust law to break up a monopoly
a. will increase economic efficiency
b. makes sense if the market would function well under competitive conditions
c. makes sense if the monopoly resulted from network externalities
d. makes sense if the monopoly resulted from a patent or copyright
e. would increase producer surplus
B
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The law of diminishing return does not apply to a firm in the long run because in this phase:
a. all the factors of production are fixed. b. there are no fixed factors of production. c. there are some fixed and some variable factors of production. d. the producer is required to produce a fixed level of output. e. the producer can change the level of output only by changing the variable factors, fixed factors remaining unchanged.
Considering the foreign exchange market, identify four causes for an increase in the supply of dollars.
What will be an ideal response?