Economies of scale can lead to an oligopolistic

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Principles of Economics
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Chapter 17 / Exercise 6
Principles of Economics
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25) Economies of scale can lead to an oligopolistic market structure becauseA) if economies of scale are insignificant, only a few firms are able to produce at the low costsachieved by the big established firms.B) a few firms can force rivals to produce at low levels of output.C) if larger firms have lower costs, new small entrants will not be able to produce at the lowcosts achieved by the big established firms.D) a few firms can use high profits to keep out new entrants.25)Answer: C
Diff: 2Page Ref: 461/461Topic: Economies of ScaleLearning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies inoligopoliesAACSB: Analytic Skills26) A reason why there is more competition among restaurants than among large discountdepartment stores is that restaurants
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Diff: 2Page Ref: 461/461Topic: Economies of ScaleLearning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies inoligopoliesAACSB: Analytic Skills27) One reason why, in the last four decades, the number of new auto makers in the world has beenvery small compared to the past is that
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Diff: 2Page Ref: 461/461Topic: Economies of ScaleLearning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies inoligopoliesAACSB: Analytic Skills7
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Principles of Economics
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Chapter 17 / Exercise 6
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