If a firm must produce a significant share of market output ...

[Mr. Wonderful]

If a firm must produce a significant share of market output before low average costs can be achieved, the structure of this industry will tend to be
 a. monopolistic competition
  b. perfect competition
  c. oligopoly
  d. either monopolistic competition or oligopoly
  e. either perfect competition or monopolistic competition

Question 2

Increasing taxes likely leads to an increase in activity in the underground economy.
 a. True
  b. False

[meganlapinski]

Answer to Question 1

C

Answer to Question 2

B