Q19 When a firm spends resources in an attempt to transfer income from consumers to themselves, we say that the firm exhibits: a) simultaneous consumption b) network effect c) X-inefficiency d) rent-seeking behavior Q20 X-inefficiency is more likely to occur within a monopoly rather than a purely competitive firm since: a) creative destruction would remove purely competitive firm if operating inefficiently b) monopolists have less access to technological advance c) highly productive managers prefer working in a competitive firm d) monopolists tend to have more secure supply chains Q21 Barriers to entry: a) usually result in pure competition b) can result from government regulation c) exist in economic theory but not in the real world d) are typically the result of wrongdoing on the part of a firm
Q19 When a firm spends resources in an attempt to transfer income from consumers to themselves, we say that the firm exhibits: a) simultaneous consumption b) network effect c) X-inefficiency d) rent-seeking behavior Q20 X-inefficiency is more likely to occur within a monopoly rather than a purely competitive firm since: a) creative destruction would remove purely competitive firm if operating inefficiently b) monopolists have less access to technological advance c) highly productive managers prefer working in a competitive firm d) monopolists tend to have more secure supply chains Q21 Barriers to entry: a) usually result in pure competition b) can result from government regulation c) exist in economic theory but not in the real world d) are typically the result of wrongdoing on the part of a firm
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
ChapterB: Differential Calculus Techniques In Management
Section: Chapter Questions
Problem 6E
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