Author Question: Which of the following could create a cost advantage for a monopoly? A) better technology B) ... (Read 23 times)

madam-professor

  • Hero Member
  • *****
  • Posts: 584
Which of the following could create a cost advantage for a monopoly?
 
  A) better technology
  B) lower friction due to better organization
  C) standardization
  D) All of the above.

Question 2

The welfare loss of a tariff equals that of an import quota that leads to the same level of imports.
 
  Indicate whether the statement is true or false



ebe

  • Sr. Member
  • ****
  • Posts: 320
Answer to Question 1

D

Answer to Question 2

False. In the case of a tariff the government receives revenue which does not reduce welfare. With a quota this amount is often lost to foreign importers.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

ebe

  • Sr. Member
  • ****
  • Posts: 320

 

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

For a complete list of videos, visit our video library