If two small perfectly competitive firms merge, the merged firm will be:
a. a price-taker.
b. a market leader.
c. a price-discriminator.
d. an oligopoly.
A
Economics
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Which of the following is an important difference between police protection and food and explains why one is commonly provided by government while the other is not?
A) Food can easily be withheld from people who don't pay for it. B) Food is not a traditional concern of government. C) Food is too vital to be entrusted to government. D) Food producers form a powerful political lobby. E) Food provided through government would be inefficient.
Economics
"Supporters of import restrictions and protectionist policies place greater weight on producer welfare than on consumer welfare." Comment
What will be an ideal response?
Economics