Author Question: The automobile industry is a. in monopolistic competition because brand names are important b. in ... (Read 79 times)

Pineappleeh · **on:** Jun 30, 2018

The automobile industry is
a. in monopolistic competition because brand names are important
b. in monopolistic competition because it has economies of scale
c. in monopolistic competition for legal reasons
d. an oligopoly because each firm must produce a large amount of output before it can achieve low average costs
e. an oligopoly for legal reasons

Question 2

Campaign finance reform is usually proposed
a. as a way of reducing the power of special-interest groups
b. as a form of rent seeking
c. by economists as a way of implementing the median voter model
d. by political action committees
e. by the Justice Department