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Author Question: A market with a few large sellers is called A) perfectly competitive. B) monopolistically ... (Read 70 times)

captainjonesify

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on: Jun 30, 2018
A market with a few large sellers is called
 A) perfectly competitive.
  B) monopolistically competitive.
  C) a monopoly.
  D) an oligopoly.

Question 2

Identify the disadvantage of public goods.


yuyiding

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Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

As public goods are nonrivalrous and nonexcludable, they lead to the free-rider problem where people want to enjoy the benefits without paying the costs. Free-rider incentives make it difficult to accurately elicit peoples' preferences for the public goods and to fund their production.


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