This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Why are economists less worried about industry concentration than they once were? What will be an ... (Read 62 times)

newyorker26

  • Hero Member
  • *****
  • Posts: 536
on: Jun 29, 2018
Why are economists less worried about industry concentration than they once were?
 
  What will be an ideal response?

Question 2

If the price of train tickets decreases, what will be the impact in the market for bus travel?
 
  A) The quantity of bus travel demanded decreases.
  B) The demand curve for bus travel shifts to the left.
  C) The quantity of bus travel demanded increases.
  D) The demand curve for bus travel shifts to the right.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Smiles0805

  • Sr. Member
  • ****
  • Posts: 305
Reply #1 on: Jun 29, 2018
Answer to Question 1

There are several reasons why economists are less worried about highly concentrated industries. First, the theory of contestable markets suggests that firms in highly concentrated industries can be pushed to produce efficiently under the right market conditions. Second, there are real benefits of product differentiation. Third, firms in highly concentrated industries appear to spend a great deal on research and development. Last, substantial economies of scale in some industries preclude a completely competitive structure.

Answer to Question 2

B


newyorker26

  • Member
  • Posts: 536
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

Liamb2179

  • Member
  • Posts: 365
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

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?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Nanomaterials Applications and Industry Used Nanomaterials Applications and Industry Used
Kyoto Protocol encourages industry to innovate and reduce the level of emissions Kyoto Protocol encourages industry to innovate and reduce the level of emissions
What is the concentration of HNO3 in the final solution when 70.0 mL of a 6.00 M HNO3 solution ... What is the concentration of HNO3 in the final solution when 70.0 mL of a 6.00 M HNO3 solution ...
What is the concentration, in mg/ml, of a solution containing 2mEq/ml of potassium chloride? What is the concentration, in mg/ml, of a solution containing 2mEq/ml of potassium chloride?
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
A solution of CaCl2 with concentration of 5.5 M was diluted 10 times, 25 times and 3 times. ... A solution of CaCl2 with concentration of 5.5 M was diluted 10 times, 25 times and 3 times. ...
Video: Spinal Cord Injury Animation

For a complete list of videos, visit our video library