« previous next »

Author Question: If firms in an oligopoly operate as a monopoly, the industry produces the most output and if they ... (Read 101 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?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

A spark tester connected to a spark plug wire or coil output. A typical spark tester will fire only ... A spark tester connected to a spark plug wire or coil output. A typical spark tester will fire only ...
Control of the cell cycle by cyclin-dependent kinases, and the checkpoints at which they operate Control of the cell cycle by cyclin-dependent kinases, and the checkpoints at which they operate
Speciation produces new types of organisms Speciation produces new types of organisms
Food policy can drive the food industry Food policy can drive the food industry
Inferring Productivity from Data on Output and Factor Accumulation Inferring Productivity from Data on Output and Factor Accumulation
Intraaortic balloon pump. The balloon deflates during systole, so cardiac output is unimpeded. Intraaortic balloon pump. The balloon deflates during systole, so cardiac output is unimpeded.
Video: Muscle Fatigue and Recovery

For a complete list of videos, visit our video library