in these large firms. Some economists observe that higher profit rates in large oligopolies stem from the greater efficiency arising from O a: economies of scale Ob.higher costs Oc. higher prices O d. lower prices O e. brand loyalty In resource markets, a. households and utility are not related. b. households supply the resources that maximize utility. c. households demand the resources that maximize profit. d. households supply the resources that minimize utility. O e. households demand the resources that minimize profit. In product markets, firms a. demand the goods and services that minimize profit. b. supply the goods and services that minimize profit. O c. firms and profit are not related. d. demand the goods and services that maximize profit. O e. supply the goods and services that maximize profit.
in these large firms. Some economists observe that higher profit rates in large oligopolies stem from the greater efficiency arising from O a: economies of scale Ob.higher costs Oc. higher prices O d. lower prices O e. brand loyalty In resource markets, a. households and utility are not related. b. households supply the resources that maximize utility. c. households demand the resources that maximize profit. d. households supply the resources that minimize utility. O e. households demand the resources that minimize profit. In product markets, firms a. demand the goods and services that minimize profit. b. supply the goods and services that minimize profit. O c. firms and profit are not related. d. demand the goods and services that maximize profit. O e. supply the goods and services that maximize profit.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter10: Monopolistic Competition And Oligopoly
Section: Chapter Questions
Problem 9RQ: If the firms in a monopolistically competitive market are earning economic profits or losses in the...
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Transcribed Image Text:in these large firms.
Some economists observe that higher profit rates in large oligopolies stem from the greater efficiency arising from
Oa: economies of scale
O b. higher costs
Oc. higher prices
O d.lower prices
O e. brand loyalty
In resource markets,
a. households and utility are not related.
b. households supply the resources that maximize utility.
O c. households demand the resources that maximize profit.
d. households supply the resources that minimize utility.
e. households demand the resources that minimize profit.
In product markets, firms
O a. demand the goods and services that minimize profit.
b. supply the goods and services that minimize profit.
c. firms and profit are not related.
Qd. demand the goods and services that maximize profit.
O e. supply the goods and services that maximize profit.
Transcribed Image Text:Some economists observe that higher profit rates in large oligopolies stem from the greater efficiency arising from
O a economies of scale
O b. higher costs
O c. higher prices
O d. lower prices
O e. brand loyalty
in these large firms.
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