Author Question: The law that prohibits price from reaching its equilibrium point, by enforcing a maximum that is ... (Read 24 times)

vHAUNG6011

  • Hero Member
  • *****
  • Posts: 514
The law that prohibits price from reaching its equilibrium point, by enforcing a maximum that is below equilibrium is called a _____ and results in a _____.
 a. price ceiling; shortage
  b. price ceiling; surplus
  c. price floor; shortage
  d. price floor; surplus

Question 2

Which of the following characteristics distinguishes oligopoly from other market structures?
 a. Firms operating in an oligopoly are independent of each other.
  b. Firms operating in an oligopoly are interdependent.
  c. Oligopoly is the simplest of all the other market structures.
  d. An oligopolist does not face a downward-sloping demand curve.
  e. Entry into an oligopolistic market is easier than entry into a monopolistically competitive market.



Shshxj

  • Sr. Member
  • ****
  • Posts: 335
Answer to Question 1

A

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

For a complete list of videos, visit our video library