A. created stationary economies of scale
B. maintained the relationship between firms and their clients
C. replaced price as the important
D. limited the expansion of firms
Related Mcqs:
- In contestable markets, large oligopolistic firms, end up behaving like ?
A. perfectly competitive firms
B. a cartel
C. a monopoly
D. monopolistically competitive firms. - In contestable markets large oligopolistic firms end up behaving like ?
A. monopolistically competitive firms
B. a cartel
C. perfectly competitive firms
D. a monopoly. - In monopolistic competition of firms are making abnormal profit other firms will enter and ?
A. The marginal cost will shift outwards
B. the demand curve will shift inwards
C. The average cost will shift downwards
D. The average variable cost will increase - According to the _____ argument for protection, tariffs can shield new industries from import competition until they have grown strong and efficient enough to withstand the competition by foreign producers ?
A. scientific tariff argument
B. infant industry argument
C. beggar they neighbor argument
D. foreign dumping argument - As the number of sellers in an oligopoly grows larger, an oligopolistic market looks more like ?
A. monopoly
B. a competitive market
C. monopolistic competition
D. a collusion solution - With whom would you associate the following quote” The business of business is business” ?
A. Milton Friedman
B. Adam smith
C. Alfred Marshal
D. Karl Marx - Monopolistic competition differs from perfect competition primarily because ?
A. in monopolistic competition entry into the industry is blocked
B. in monopolistic competition there are relatively few barriers to entry.
C. in monopolistic competition, firms can differentiate their products
D. in perfect competition firms can differentiate their products - The long-run equilibrium outcomes in monopolistic competition and perfect competition are similar because in both market structures ?
A. the efficient output level will be produced in the long run
B. firms will only earn a normal profit
C. firms realize all economies of scale
D. firms will be producing at minimum average cost - The use of word “competition” in the name of the market structure called “monopolistic competition” refers to the fact that ?
A. there are many sellers in a monopolistically competitive market and there is free entry and exit in the market just like a competitive market
B. Monopolistically competitive firms face a downward-sloping demand curve just like competitive firms.
C. Monopolistically competitive firms charge prices equal to the minimum of their average total cost just like competitive firms.
D. The products are differentiated in a monopolistically competitive market just like in a competitive market. - Antimonopoly legislation is undertaken to ____ competition and market regulation is undertaken to ____ competition ?
A. restrict; promote
B. restrict; restrict
C. promote; promote
D. promote; restrict
