Natural oligopolies occur when
a. the government establishes a market with a few large producers
b. the market output could be produced at a higher cost by several large firms rather than many small firms
c. there are no barriers to entry
d. the total market output could be produced at a lower cost by several large firms rather than many small firms
e. one large firm can produce the total market output at a lower cost than several smaller firms could
D
You might also like to view...
Since approximately 1970, the most stable Phillips-type relationship for the United States has been between which of the following?
A) the rate of inflation and the change in the unemployment rate B) the unemployment rate and the change in the rate of inflation C) the change in the unemployment rate and the change in the rate of inflation D) the inverse of the unemployment rate and the rate of inflation E) the unemployment rate and the rate of inflation
When the real interest rate is less than zero, then:
a. a creditor will gain purchasing power. b. a creditor will just break even on his or her real loan return. c. a creditor will lose purchasing power. d. a creditor will benefit from inflation. e. a creditor's purchasing power will not be affected, because the nominal interest rate is greater than zero.