Author Question: In the early twentieth century, general stores in the upper Midwest had more power over prices ... (Read 64 times)

B · **on:** Jun 30, 2018

In the early twentieth century, general stores in the upper Midwest had more power over prices because:
a. they acted as intermediaries between farmers and buyers.
b. the transportation network was bad, leaving farmers and buyers with no alternatives except the general stores in small towns.
c. inventories at the general stores were low and demand was high.
d. stockouts were a chronic problem and there was little variety.

Question 2

A firm gets less efficient as it gets bigger, if it is experiencing:
a. economies of scale.
b. constant returns to scale.
c. increasing returns to factors.
d. diseconomies of scale.
e. a period of post war recovery.