Refer to the scenario above. If the government removes the ban on Firm B and both Firm A and firm B aim at maximizing profits:
A) marginal cost of Firm A will eventually be greater than the marginal cost of Firm B.
B) marginal cost of Firm B will eventually be greater than the marginal cost of Firm A.
C) marginal cost of both firms will eventually be equalized.
D) the difference in the marginal cost of both firms will eventually increase.
C
Economics
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The earliest beginning of the European Union was the:
A) Maastricht Treaty. B) Treaty of Rome. C) Paris Accord. D) Louvre Accord.
Economics
In an oligopoly market with a dominant firm and a competitive fringe, if market demand is _____, the market price will be low and the _____ profit will be small
a. less elastic; fringe's b. less elastic; dominant firm's c. more elastic; fringe's d. more elastic; dominant firm's
Economics