An industry that has a relatively small number of firms that dominate the market is called ?

Related Mcqs:

Engineers for the All-Terrain Bike Company have determined that a 15% increase in all inputs will cause a 15% increase in output Assuming that input prices remain constant, you correctly deduce that such a change will cause ________ as output increases?

A. average costs to remain constant B. average costs to decrease C. average costs to increase D. marginal costs to increase...

An industry that realizes such large economies of scale in producing its product that single-firm production of that good or service is most efficient is called ?

A. a fixed cost monopoly B. a natural monopoly C. a government franchise monopoly D. a economies of scale monopoly...

The formula for average variable cost (AVC) is ?

A. DTVC/Dq B. q/TVC C. Dq/DTVC D. TVC/q...

A firm in perfectly competitive industry is producing 50 units, its profit-maximising quantity. Industry price is £2 and total fixed costs and total variable cost are £25 and £40 respectively. The firm’s economic profit is ?

A. £35 B. £15 C. £30 D. £60...

A price- and quantity-fixing agreement is known as?

A. price leadership B. price concentration C. collusion D. game theory,...