Aggregate concentration can be interesting political effects more than for economic effects
Indicate whether the statement is true or false
T Aggregate concentration deals with economy wide economic power, which can be important politically.
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Retailers and other middlemen provide benefits to patrons
A) because people don't realize how much they could save by cutting out middlemen. B) but the middlemen benefit far more. C) by lowering the cost to their customers of acquiring valuable information. D) only because their customers are irrational.
Everything else remaining unchanged, if a new seller enters a market to compete with an existing monopoly that is enjoying economies of scale, it will lead to:
A) higher profits for both firms. B) higher profits for the existing firm. C) lower profits for the existing firm. D) higher market power for the existing firm.