If a market changes from oligopoly to perfect competition, then as a result
A. Prices should rise in the long run.
B. Profitability should rise in the long run.
C. Fewer resources will be allocated to the market.
D. Output should increase in the long run.
Answer: D
Economics
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Because labor unions contribute to keeping real wages ________ their equilibrium levels, higher unionization rates will tend to contribute to ________ unemployment rates
A) above; higher B) above; lower C) below; higher D) below; lower
Economics
Suppose the civilian non-institutional population equals 250,000; there are 132,500 employed persons and 10,000 unemployed persons. How many persons are not in the labor force?
A) 122,500 B) 77,500 C) 63,500 D) 107,500
Economics