In the scenario above, the market is A) a natural duopoly. B) ...

[lak]

In the scenario above, the market is
 
  A) a natural duopoly.
  B) a natural oligopoly with three firms.
  C) a natural monopoly.
  D) monopolistically competitive.

Question 2

The figure illustrates the market for bagels. If the number of bagels is increased from 20 to 30 an hour, consumer surplus plus producer surplus ________ and deadweight loss is ________.
 
  A) decreases; negative
  B) decreases; positive
  C) increases; positive
  D) increases; negative

[macagn]

Answer to Question 1

A

Answer to Question 2

B