The Theory of Oligopoly Provides Another Reason That Free Trade

question 64

Multiple Choice

The theory of oligopoly provides another reason that free trade can benefit all countries because

• A)increased competition leads to larger deadweight losses.
• B)as the number of firms within a given market increases, the price of the good decreases.
• C)as the number of firms within a given market increases, the profit of each firm increases.
• D)All of the above are correct.

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Definitions:

Taboo

A social or cultural prohibition or ban against a particular practice, behavior, or discussion that is considered unacceptable or inappropriate.

Religion

Refers to a set of beliefs, practices, and systems that relate to the purpose, nature, and understanding of the universe, often focusing on the idea of divinity and the spiritual aspects of human existence.

Navajo Skinwalkers

In Navajo culture, a witch or wizard believed to have the supernatural ability to transform into, possess, or disguise themselves as animals.

Haitian Vodou

A syncretic religion practiced chiefly in Haiti, incorporating elements of West African religions, Roman Catholicism, and indigenous Taino beliefs.