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

Author Question: List three reasons why oligopolies are considered to be inefficient. What will be an ideal ... (Read 94 times)

jparksx

  • Hero Member
  • *****
  • Posts: 570
on: Jun 29, 2018
List three reasons why oligopolies are considered to be inefficient.
 
  What will be an ideal response?

Question 2

Suppose that when the price of hamburgers increases, the Ruiz family increases their purchases of hot dogs. To the Ruiz family
 
  A) hamburgers and hot dogs are normal goods. B) hamburgers and hot dogs are substitutes.
  C) hamburgers and hot dogs are inferior goods. D) hamburgers and hot dogs are complements.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

stillxalice

  • Sr. Member
  • ****
  • Posts: 339
Reply #1 on: Jun 29, 2018
Answer to Question 1

(1.) Oligopolies produce where price is greater than marginal cost. This is an output level that is lower than the socially optimal level of output.
(2.) Entry barriers in oligopolistic markets prevent new capital and other resources from responding to profit signals.
(3.) Product differentiation accomplished through advertising may lead to waste and inefficiency if it serves as an additional barrier to entry.

Answer to Question 2

B


jparksx

  • Member
  • Posts: 570
Reply 2 on: Jun 29, 2018
Excellent

alvinum

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Antoine-Laurent de Lavoisier is considered the "Father of Modern Chemistry". Antoine-Laurent de Lavoisier is considered the "Father of Modern Chemistry".
One of the reasons I went to Cambodia was to interview a feral child—the boy shown here—who ... One of the reasons I went to Cambodia was to interview a feral child—the boy shown here—who ...
When the number of miles traveled is considered, drivers under 25 years of age and those over 70 are ... When the number of miles traveled is considered, drivers under 25 years of age and those over 70 are ...
Aging is more than biology. In some cultures, Jennifer Lopez, 43, would be considered elderly. Lopez ... Aging is more than biology. In some cultures, Jennifer Lopez, 43, would be considered elderly. Lopez ...
Conventional cars are extremely inefficient Conventional cars are extremely inefficient
13 Reasons Why 13 Reasons Why
Video: Secondary Active Transport

For a complete list of videos, visit our video library