X inefficiency occurs when ?

Related Mcqs:

Barriers to entry do not include ?

A. Patents B. Internal economies of scale C. Mobility of resources D. High investment costs...

A monopoly is able to continue to generate economic profits in the long run because ?

A. there is some barrier to entry to that market B. Potential competitors sometimes don’t notice the the profits. C. the monopolist is financially powerful. D. antitrust laws eliminate competitors for a specified number of years. E. of all of the things described in these answers...

Which of the following is a characteristic of pure monopoly ?

A. One seller of the product B. low barriers to entry C. close substitute products D. perfect information...

Compared to the case of perfect competition, a monopolist is more likely to ?

A. charge a higher price B. produce a lower quantity of the product C. make a greater amount of economic profit D. all of the above...

Which of the following best defines price discrimination ?

A. charging different prices on the basis of race B. charging different prices for goods with different costs of production C. charging different prices based on cost-of-service differences D. selling a certain product of given quality and cost per unit at different prices to different buyers...