Author Question: Everything else remaining unchanged, if a new seller enters a market to compete with an existing ... (Read 63 times)

bio_gurl · **on:** Jun 29, 2018

Everything else remaining unchanged, if a new seller enters a market to compete with an existing monopoly that is enjoying economies of scale, it will lead to:

A) higher profits for both firms.
B) higher profits for the existing firm.
C) lower profits for the existing firm.
D) higher market power for the existing firm.

Question 2

Which statement is consistent with the economic way of thinking?

A) Politicians seek to advance their own interests.
B) Politicians are not only concerned with money and material goods.
C) Politicians do not necessarily pursue narrow or selfish goals.
D) All of the above.
E) None of the above.