Economists no longer attack industry concentration with the same fervor they once did because
A. small firms do the most research in the United States.
B. the benefits of product differentiation and product competition are illusory.
C. even firms in highly concentrated industries can be pushed to produce efficiently under certain market circumstances.
D. substantial economies of scale result in completely competitive market structures.
Answer: C
Economics
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Who was the economist who first proposed that governments use taxes and subsidies to correct for externalities?
A) Ronald Coase B) A. C. Pigou C) Adam Smith D) David Hume
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