This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A monopoly is inefficient because: a. consumers are forced to pay higher prices for products. b. ... (Read 118 times)

viki

  • Hero Member
  • *****
  • Posts: 525
on: Jun 30, 2018
A monopoly is inefficient because:
 a. consumers are forced to pay higher prices for products.
 b. firms are able to earn economic profits.
 c. the cost of increased production is less than the value that society places on it.
  d. price exceeds marginal revenue.

Question 2

The infant industry argument is that:
 a. those industries that produce products for infants should be protected.
  b. developing industries should be allowed to face foreign competition.
  c. protectionism should be used to create a level playing field for the domestic firms to compete with foreign firms.
  d. protectionism promotes complete specialization in the country on the basis of comparative advantage.
  e. new industries should be protected from foreign competition until they have had adequate time to develop.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

skipfourms123

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

e


viki

  • Member
  • Posts: 525
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

cassie_ragen

  • Member
  • Posts: 347
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Longer regions have more crossovers and thus higher recombinant frequencies Longer regions have more crossovers and thus higher recombinant frequencies
Products of the Root's Primary Meristems Products of the Root's Primary Meristems
Early in the twentieth century, when malnutrition was common, companies such as this one advertised Early in the twentieth century, when malnutrition was common, companies such as this one advertised
On average, students in Roman Catholic schools score higher on national tests than students in ... On average, students in Roman Catholic schools score higher on national tests than students in ...
Energy Transfer Processes: Forced Convection Energy Transfer Processes: Forced Convection
The carotenoid lycopene, found in tomatoes and tomato products, functions as an antioxidant The carotenoid lycopene, found in tomatoes and tomato products, functions as an antioxidant
Video: Carbon fixing adaptations Animation

For a complete list of videos, visit our video library