By keeping new firms from entering the market,oligopolies are more likely to have
A) long-run economic profit
B) low prices
C) great efficiency
D) decreasing marginal costs
E) economies of scale
Correct Answer:
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Q59: In monopolistic competition,product differentiation causes
A)the firms to
Q60: Cecilia's Cafe is a monopolistic competitor.If Cecilia's
Q61: Oligopolies feature
A)the absence of barriers to entry
B)extensive
Q62: All of the following are examples of
Q63: The output level at which a firm's
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Q66: The airline and long-distance telephone service industries
Q67: The key characteristic of oligopoly is
A)that firms
Q68: Natural oligopolies occur when
A)the government establishes a
Q69: A firm's minimum efficient scale occurs where
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