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Author Question: In which market structure(s) might firms produce an undifferentiated product? a. perfect ... (Read 50 times)

rachel9

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on: Jun 30, 2018
In which market structure(s) might firms produce an undifferentiated product?
 a. perfect competition only
  b. perfect competition and oligopoly
  c. monopolistic competition only
  d. perfect competition and monopolistic competition
  e. monopoly only

Question 2

The hiring of a brilliant tax lawyer by a firm that wants to find tax loopholes
 a. encourages economic efficiency by moving resources away from the government into the private sector
  b. encourages economic efficiency only if the firm's profit increases
  c. is an example of economic inefficiency caused by devoting resources to wealth redistribution rather than to production
  d. involves the firm in a zero-sum game against other firms
  e. involves the firm in a zero-sum game against the government


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chereeb

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

C


rachel9

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Reply 2 on: Jun 30, 2018
Excellent

kthug

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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