« previous next »

Author Question: The most common reason for the existence of oligopolies is A) ease of entry. B) economies of ... (Read 28 times)

mckennatimberlake

  • Hero Member
  • *****
  • Posts: 559
on: Jun 29, 2018
The most common reason for the existence of oligopolies is
 
  A) ease of entry.
  B) economies of scale.
  C) diseconomies of scale.
  D) advertising.

Question 2

Scarcity implies that some way of rationing goods must be found. Explain what this statement means. How is this rationing done?
 
  What will be an ideal response?


meganmoser117

  • Sr. Member
  • ****
  • Posts: 303
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

Scarcity means that there are not enough goods and services to satisfy unlimited human wants. When more people want something than can have it, some way must be found to determine who gets the available units. This process is rationing. Rationing can be done by using prices to ration a good to those most willing and able to pay the highest price. First-come-first-served rations by queues, lotteries ration on the basis of chance, discrimination rations on the basis of racial, ethnic, or gender preferences, and so on.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

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.

The wolf spider, Lycosa godeffroyi, is common in many areas of Australia. In this family of spiders, The wolf spider, Lycosa godeffroyi, is common in many areas of Australia. In this family of spiders,
Anatomical and common names for the pectoral girdle and upper extremity. Anatomical and common names for the pectoral girdle and upper extremity.
Common Adrenergic Blocking Drugs (Antagonistics) Common Adrenergic Blocking Drugs (Antagonistics)
Common Cytochrome P450 Drug Interactions in Dentistry Common Cytochrome P450 Drug Interactions in Dentistry
Fermentations use a common strategy to regenerate oxidized NAD+ Fermentations use a common strategy to regenerate oxidized NAD+
Comparison of Portion Sizes of Common Foods Comparison of Portion Sizes of Common Foods
Video: The life cycle of protein

For a complete list of videos, visit our video library