Author Question: Consider an industry in which there are significant scale economies. An implication is that (Read 30 times)

cyc028 · **on:** Oct 12, 2022

Question 1

Of the following, which is the best example of a monopolistically competitive firm?
◦ Air Canada
◦ a local hair salon
◦ Burger King
◦ a PEI potato farmer
◦ Apple

Question 2

Consider an industry in which there are significant scale economies. An implication is that
◦ barriers to entry in the industry are non-existent.
◦ the firms in the industry will behave as perfect competitors.
◦ the minimum efficient scale of operation occurs at fairly low output levels.
◦ a large share of the market would be required by each firm to achieve the lowest possible cost per unit.
◦ this industry is more efficient than others.

heathercab · **Reply #1 on:** Oct 12, 2022

A FREE account is required to view all solutions!

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 35% of students answer this correctly