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amberworm119Lv1

8 Mar 2021

A business with market power will typically:

a. be more innovative than firms in perfect competition.

b. force employees to work harder and longer.

c. create new markets due to competitive forces.

d. have lower productivity.

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29 May 2023

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Related questions

1. A profit-maximizing monopolist will always charge _______ a perfect competitor would.

A. Less than

B. More than

C. The same as

D. Slightly more than cost than

2. A business with market power will typically:

A. Be more innovative than firms in perfect competition.

B. Force employees to work harder and longer.

C. Create new markets due to competitive forces.

D. Have lower productivity.

3. Which of the following is NOT an example of a barrier to entry?

A. Lower costs

B. Scarce land

C. Extreme start-up costs

D. Heavy government regulations

4. Which is an example of the government command approach?

A. The growth of community banks

B. Fast food franchises' growth

C. Public schools

D. Private college education

5. Between 1961 and 1972, the federal government spent as much on ______ as it did on building highways.

A. Welfare

B. Medicare

C. Crop subsidies

D. Space exploration

6. The inefficiency of taxation means that:

A. Governments tax only specific industries.

B. Taxes are applied more to consumers than businesses.

C. Imposing a tax on goods typically reduces the amount produced.

D. Imposing a tax on goods reduces prices and decreases supply.

7. A market where there are only one seller and buyers and have no good alternative is called a (n):

A. Oligopoly.

B. Oligarchy.

C. Monopoly.

D. Perfect completion market.

8. Among industrialized countries, the United States has one of the __________ public sectors, as a percentage of government spending and the economy.

A. Smallest

B. Largest

C. Fastest-growing

D. Slowest-growing

9. ______ is paid communication with potential customers in a public medium, such as newspapers and television.

A. Journalism

B. Advertising

C. Public Relations

D. Brand identification

amethystporcupine883

25. One difference between perfect competition and monopolistic competition is A) firms in a perfectly competitive market produce similar but slightly different products. B) in perfect competition, the product produced has no close substitutes. C) monopolistic competition has barriers to entry, whereas perfect competition has none. D) a small number of firms compete in a monopolistically competitive market and a large number of firms compete in a perfectly competitive market. E) firms in monopolistic competition have some degree of market power.

A major difference between monopolistic competition and perfect competition is:

a. there are barriers to entry in monopolistic competition. There are no barriers to entry in perfectly competitive markets.

b. monopolistically competitive firms sell differentiated products. Perfectly competitive firms sell identical products.

c. government regulation restricts the ability of monopolistically competitive firms to change their prices. Perfectly competitive firms face no price regulation.

d. the market demand curve in a monopolistically competitive market slopes downward. The market demand curve in a perfectly competitive market is horizontal