To an economist,which question is answered in the field of industrial organization
A)Why are consumers subject to the law of demand?
B)Why do firms experience falling marginal product of labour?
C)How does the difference in the number of firms affect prices and the efficiency of market outcomes?
D)Why do firms consider production costs when determining product supply?

Question

Quizplus · Accepted Answer

Industrial organization is the study of the structure, behavior, and performance of markets. This field focuses on how the number of firms in a market affects prices and efficiency of market outcomes. Answer A is related to microeconomics, while answer B is related to production theory. Answer D is also related to microeconomics and production decisions.

To an Economist,which Question Is Answered in the Field of Industrial