Author Question: Michael Potter argued that ____ led to firms earning economic profit over extended periods of time. ... (Read 22 times)

Mr3Hunna · **on:** Jun 30, 2018

Michael Potter argued that ____ led to firms earning economic profit over extended periods of time.
A) the ease of substitution
B) market power
C) the extent of consumer power
D) degree of competition from foreign tariffs

Question 2

Where monopsony exists, ____ workers will be hired at ____ wages than if perfect competition prevailed in a labor market.
a. fewer; lower
b. fewer; higher
c. more; lower
d. more: higher