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

Author Question: By definition, a government-sponsored good A) is a good that is deemed socially desirable. B) is ... (Read 132 times)

roselinechinyere27m

  • Hero Member
  • *****
  • Posts: 557
on: Jun 29, 2018
By definition, a government-sponsored good
 
  A) is a good that is deemed socially desirable.
  B) is a good that should be available only to upper-income groups.
  C) is always provided at a zero price.
  D) does not affect society's general welfare.

Question 2

Oligopoly is the only market structure in which rivalry among firms takes place. Do you agree or disagree? Why?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ms_sulzle

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

Agree. Oligopolists recognize their strategic dependence and must take into consideration likely reactions by rivals to any decision they make. The firms realize they are in competition with other firms and may actively compete with them. Under perfect competition and monopolistic competition, there is no rivalry because the firms are too small to have any impact on the other firms. Each firm acts independent of the other firms. By definition there is no rival under monopoly. So, oligopoly is the only market structure where competitive behavior actually takes place.


roselinechinyere27m

  • Hero Member
  • *****
  • Posts: 557
Reply #2 on: Jun 29, 2018
Thank you


ms_sulzle

  • Sr. Member
  • ****
  • Posts: 320
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

The world has been horrified recently at a U.S. Congress so polarized and paralyzed that it cannot p The world has been horrified recently at a U.S. Congress so polarized and paralyzed that it cannot p
The paper test involves holding a piece of paper near the tailpipe of an idling engine. A good ... The paper test involves holding a piece of paper near the tailpipe of an idling engine. A good ...
Good Old War - Part Of Me [Audio] Good Old War - Part Of Me [Audio]
Carrots are a good source of vitamin A Carrots are a good source of vitamin A
Government By the People, 2016 Presidential Election, 26th Edition Government By the People, 2016 Presidential Election, 26th Edition
The constitutional division of Powers Between the National Government and the States The constitutional division of Powers Between the National Government and the States
Video: Sigmoidoscopy

For a complete list of videos, visit our video library