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 71 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
YES! Correct, THANKS for helping me on my review


irishcancer18

  • Member
  • Posts: 310
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

For a complete list of videos, visit our video library