Both Empirical Evidence and Everyday Observation Suggest That Oligopolies Contribute

question 22

Multiple Choice

Both empirical evidence and everyday observation suggest that oligopolies contribute to economic growth in the very-long-run by

• A)achieving allocative efficiency.
• B)consistently producing at full-capacity output.
• C)achieving technological improvements and innovations through research and development.
• D)decreasing minimum efficient scale.
• E)rarely laying off workers.

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Definitions:

Boxplot

A graphical representation of data that displays the distribution, outliers, and measures of central tendancy using a five-number summary.

Ages

The duration for which an individual or object has been in existence.

Ice Cream Shop

A retail establishment that sells ice cream, gelato, sorbet, and/or frozen yogurt to consumers.

Weight

A measure of the force exerted by gravity on an object, commonly measured in units such as pounds or kilograms.