Which of the following is a valid effect of monopoly power?
a. Desirable effects on the distribution of wealth.
b. Efficient resource allocation.
c. Fostering of innovation.
d. Obstacle to efficiency.
d
Economics
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A market is classified as an oligopoly when
A) a few firms compete. B) many firms produce a slightly differentiated product. C) no matter how many firms are in the market, a barrier blocks entry by other new firms. D) many firms produce the same product. E) only one firm sells a product with no close substitutes.
Economics
Measures of the Solow residual show it to be
A) strongly procyclical. B) mildly procyclical. C) mildly countercyclical. D) strongly countercyclical.
Economics