This topic contains a solution. Click here to go to the answer

Author Question: A monopoly is inefficient because: a. consumers are forced to pay higher prices for products. b. ... (Read 72 times)

viki

  • Hero Member
  • *****
  • Posts: 525
A monopoly is inefficient because:
 a. consumers are forced to pay higher prices for products.
 b. firms are able to earn economic profits.
 c. the cost of increased production is less than the value that society places on it.
  d. price exceeds marginal revenue.

Question 2

The infant industry argument is that:
 a. those industries that produce products for infants should be protected.
  b. developing industries should be allowed to face foreign competition.
  c. protectionism should be used to create a level playing field for the domestic firms to compete with foreign firms.
  d. protectionism promotes complete specialization in the country on the basis of comparative advantage.
  e. new industries should be protected from foreign competition until they have had adequate time to develop.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

skipfourms123

  • Sr. Member
  • ****
  • Posts: 343
Answer to Question 1

c

Answer to Question 2

e




viki

  • Member
  • Posts: 525
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)


pangili4

  • Member
  • Posts: 346
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

There are more bacteria in your mouth than there are people in the world.

For a complete list of videos, visit our video library