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
All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co
Multiple sclerosis is characterized by damage to the myelin sheath surrounding the axons of motor ...
How to reduce simple ratios
Products like Beano contain enzymes that help reduce the production of gas in the large intestine
One of the best ways to reduce your chances of catching a cold
Rapidly decreasing sequence costs have enabled the rapid expansion