Author Question: The welfare loss from monopoly is not really a loss to society as a whole, since it is just a ... (Read 83 times)

olgavictoria · **on:** Jun 30, 2018

The welfare loss from monopoly is not really a loss to society as a whole, since it is just a transfer from consumers to producers.
a. True
b. False
Indicate whether the statement is true or false

Question 2

We know that industrial countries tend to trade with other industrial countries. This pattern counters the:
a. preference theory of comparative advantage.
b. factor abundance theory of comparative advantage.
c. concept of intraindustry trade.
d. product life cycle theory of comparative advantage.
e. human skills theory of comparative advantage.