This preview shows page 1. Sign up to view the full content.
Unformatted text preview: (d) farm machinery manufacturers (1/2pt) 3. TRUE or FALSE. The fact that oligopolists match all price decreases but not all price increases leads to a kinked demand curve. (1/2pt) 4. The social costs of monopolies are known as deadweight loss. (1/2pt) 5. TRUE or FALSE . Under conditions of monopoly relative to perfect competition, prices will be higher but quantities produced will be greater....
View Full Document
This document was uploaded on 12/13/2010.
- Spring '09