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Author Question: Which of the following could create a cost advantage for a monopoly? A) better technology B) ... (Read 90 times)

madam-professor

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on: Jul 1, 2018
Which of the following could create a cost advantage for a monopoly?
 
  A) better technology
  B) lower friction due to better organization
  C) standardization
  D) All of the above.

Question 2

The welfare loss of a tariff equals that of an import quota that leads to the same level of imports.
 
  Indicate whether the statement is true or false


ebe

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

False. In the case of a tariff the government receives revenue which does not reduce welfare. With a quota this amount is often lost to foreign importers.


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madam-professor

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Reply #2 on: Jul 1, 2018
Correct answers!


ebe

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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