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Author Question: Why are economists less worried about industry concentration than they once were? What will be an ... (Read 121 times)

newyorker26

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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.


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Smiles0805

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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

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

vickybb89

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Reply 3 on: Yesterday
Excellent

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