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Author Question: In a market characterized by many sellers, if an outsider devises a way to reduce transaction costs ... (Read 63 times)

Tirant22

  • Hero Member
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  • Posts: 532
on: Jun 30, 2018
In a market characterized by many sellers, if an outsider devises a way to reduce transaction costs it will:
 a. benefit both buyers and sellers.
  b. cause both buyers and sellers to lose.
  c. benefit the buyers but cause the sellers to lose.
  d. benefit the sellers but cause the buyers to lose.

Question 2

Since a monopolistically competitive firm faces a ____ demand curve, it will always operate ____ in long-run equilibrium.
 a. perfectly elastic; with excess capacity
 b. downward-sloping; with excess capacity
 c. downward-sloping; at an economically efficient scale
  d. perfectly inelastic; at an economically efficient scale


kxciann

  • Sr. Member
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  • Posts: 356
Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

b


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