« previous next »

Author Question: If firms in an oligopoly operate as a monopoly, the industry produces the most output and if they ... (Read 60 times)

jCorn1234

  • Hero Member
  • *****
  • Posts: 545
on: Jun 29, 2018
If firms in an oligopoly operate as a monopoly, the industry produces the most output and if they operate as perfect competitors, the industry produces the least output. Is the previous statement correct or incorrect? Why?
 
  What will be an ideal response?

Question 2

Which of the following questions is a macroeconomic issue?
 
  A) How many more pounds of cookies will a consumer purchase if the price of cookies decreases?
  B) What effect would a cure for Mad Cow Disease have on the market for beef?
  C) What is the future growth prospect for an economy?
  D) How many workers should the owner of a business hire?


ju

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jun 29, 2018
Answer to Question 1

The statement is incorrect; it reverses the outcomes. If the firms in an oligopoly operate as a monopoly, the industry produces the least output and if they operate as perfect competitors, the industry produces the most output.

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Faulty outlooping produces lambda phage containing bacterial DNA Faulty outlooping produces lambda phage containing bacterial DNA
The energy input and output of glycolysis. The energy input and output of glycolysis.
Urine output. Urine output.
The Acheulean industry is typified by hand axes and cleavers. The Acheulean industry is typified by hand axes and cleavers.
Kyoto Protocol encourages industry to innovate and reduce the level of emissions Kyoto Protocol encourages industry to innovate and reduce the level of emissions
Possible Sources of Differences in Output per Worker Possible Sources of Differences in Output per Worker
Video: Control of ventilation rate by other brain centers (posts, hypothalamus & cerebral cortex)

For a complete list of videos, visit our video library