Author Question: Monopolies will tend to produce a greater quantity and charge higher prices than perfectly ... (Read 88 times)

burton19126 · **on:** Jun 30, 2018

Monopolies will tend to produce a greater quantity and charge higher prices than perfectly competitive industries.
a. True
b. False
Indicate whether the statement is true or false

Question 2

The product life cycle theory predicts that comparative advantage shifts away from the country of origin if:
a. the product is introduced in many countries simultaneously.
b. the product is highly demanded in international markets.
c. the demand for the product drastically declines in the domestic market of the country where it was invented.
d. other countries have lower manufacturing costs using the now-standardized technology.
e. other countries develop highly skilled labor force to improve product quality.