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

Author Question: If a firm has substantial market power, it must be operating in an industry that would be classified ... (Read 64 times)

hbsimmons88

  • Hero Member
  • *****
  • Posts: 526
If a firm has substantial market power, it must be operating in an industry that would be classified as:
 a. a monopoly or oligopoly.
  b. perfectly competitive.
  c. monopolistically competitive.
  d. perfectly competitive or monopolistically competitive.
  e. perfectly competitive or a monopoly.

Question 2

The short run is a period of time:
 a. in which a firm uses at least one fixed input.
  b. that is long enough to permit changes in the firm's plant size.
  c. in which production occurs within one year.
  d. in which production occurs within six months.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

31809pancho

  • Sr. Member
  • ****
  • Posts: 317
Answer to Question 1

a

Answer to Question 2

a





 

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

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.

For a complete list of videos, visit our video library