Monopolies tend to
A) hire more labor than duopolists or competitive firms, hence they are inefficient.
B) hire more labor than competitive firms but less than duopolists.
C) hire less labor than competitive firms because they produce at an inefficient level.
D) hire more labor because they produce at an inefficient level.
C
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Since the period following World War II (the early 1950s), the proportion of most countries' production being used in some other country
A) remained constant. B) increased. C) decreased. D) fluctuated widely with no clear trend. E) increased slightly before dropping off.
Bank lending and deposits tend to change as interest rates change. Can the Fed counteract this tendency?
A. Yes, through its ability to affect the money supply. B. Yes, through its ability to change tax levels. C. No, the Fed is forbidden by the Constitution from intervening in the economy. D. No, the Fed almost always follows a passive monetary policy.