Author Question: Profits of a monopoly are driven to zero a. Immediately in the short-run as assets freely move from ... (Read 53 times)

anshika · **on:** Jul 1, 2018

Profits of a monopoly are driven to zero
a. Immediately in the short-run as assets freely move from low-valued uses to high-valued uses instantly
b. In the long run because the demand curve becomes more inelastic
c. In the long run because the assets eventually move from low to high valued use
d. In the short run because the demand curve becomes more elastic

Question 2

Bid-rigging is more likely when
a. auctions are for larger amounts
b. auctions are frequent
c. auctions are infrequent
d. the auctioneer is paid on commission rather than a fixed fee