1.Which of the following is true of oligopoly? A.It is characterized by substant

Question

1.Which of the following is true of oligopoly?

A.It is characterized by substantial diseconomies of scale.

B.Firms change their prices less frequently than do perfect competitors.

C.It is characterized by few barriers to entry into the market. Firms normally earn zero economic profits in the long run.

D.A large number of firms control all or most of the production and sale of a product.

2.The equilibrium wage and quantity in competitive markets for labor are determined by:

E.the government

3.Improvements in the productivity of labor will tend to:

E.increase the demand for labor.

4.In which of the following years was the poverty rate in the United States the highest since 1993?

E.2004–05.

5.The poverty rate is:

Explanation / Answer

1-) The answer is D-) A large number of firms control all or most of the production and sale pf the product.

Because oligopoly is the market where are small number of firms control the market . And an oligopoly does not change their price very frequently woth comparison to monopoly. Oligopoly firms are economies of scale.

2-) The answer is B-) the interaction of labor demand and labor supply curve.

3-) The answer is C-) decreases the demand for labor.

4-) please upload again.chegg policy to answer only 1 question

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