4) Which of the following statements is TRUE Self interested firms .docx

  • No School
  • AA 1
  • 3

This preview shows page 1 - 3 out of 3 pages.

Image of page 1
4) Which of the following statements is TRUE? Self interested firms are encouraged to benefit society when they must compete for consumers. Government enforces barriers to entry like permits, licensing, and patents that benefit monopolies. The unintended consequences of political interventions are often socially harmful. Group of answer choices 1 and 2 2 and 3 1, 2, and 3 1 and 3 5) Which of the following is NOT perceived as a problem with monopolies? Group of answer choices Monopolies create deadweight loss. Monopolistic prices are too high.
Image of page 2
Image of page 3

You've reached the end of your free preview.

Want to read all 3 pages?

Unformatted text preview: Monopolists produce too few goods. All monopolies are created by government barriers to entry. 6) Monopolies must set the same price for all of the units of a good they produce. If they were able to set different prices, and sell units to consumers who were previously unwilling to pay a higher price, the monopolist would be ____ of, some consumers would be ____ off, and deadweight loss would _____. Group of answer choices better; worse; increase better; better; decrease worse; better; decrease worse; worse; increase...
View Full Document

  • Fall '19

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask You can ask ( soon) You can ask (will expire )
Answers in as fast as 15 minutes