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 43 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
YES! Correct, THANKS for helping me on my review

Alyson.hiatt@yahoo.com

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Over nearly 30 years, humans removed many polar bears for a variety of reasons, from a population in Over nearly 30 years, humans removed many polar bears for a variety of reasons, from a population in
An example of a medical history sheet to list patient problems. An example of a medical history sheet to list patient problems.
An example of a selection list used to identify symptoms. An example of a selection list used to identify symptoms.
ICD-10-CM Tabular List ICD-10-CM Tabular List
Example of the Tabular List and instructional notes (conventions). Example of the Tabular List and instructional notes (conventions).
Global list of Threatened Species Global list of Threatened Species
Video: Parathyroid hormone (bone resorption) & Calcitonin (bone deposition)

For a complete list of videos, visit our video library