Author Question: If there is an external cost from making paper, an unregulated competitive market produces A) ... (Read 116 times)

fnuegbu · **on:** Jun 29, 2018

If there is an external cost from making paper, an unregulated competitive market produces

A) less than the efficient quantity.
B) the efficient quantity.
C) more than the efficient quantity.
D) a quantity that could be greater than, the same as, or less than the efficient amount.

Question 2

In an oligopoly

A) there are only a few firms.
B) there is no product differentiation.
C) there is free entry and exit.
D) firms' decisions are unrelated to each other.