The outcome of a competitive oligopoly:
A. is less efficient than that of colluding oligopolists.
B. is more efficient than that of a perfectly competitive outcome.
C. is more efficient than that of a monopolist.
D. is less efficient than that of a monopolist.
C. is more efficient than that of a monopolist.
You might also like to view...
Suppose a market begins in equilibrium. If supply increases, then at the original equilibrium price the quantity demanded is
A) is less than the quantity supplied and a surplus results. B) is less than the quantity supplied and a shortage results. C) exceeds the quantity supplied and a surplus results. D) exceeds the quantity supplied and a shortage results.
Which of the following is true regarding economic fluctuations in the United States?
a. Since World War II, economic ups and downs have been more moderate than before the war. b. Prior to World War II, real GDP annual increases of more than 5 percent were unheard of. c. Real GDP grew rapidly during the 1930s. d. The 1920s was a period of prolonged economic stagnation and high unemployment.