In General,oligopolies Are Considered Resource Misallocators Because

question 67

Multiple Choice

In general,oligopolies are considered resource misallocators because:

• A)competition is often fierce in oligopolies.
• B)an oligopolist often earns economic profits.
• C)P < MC in oligopoly.
• D)P = MC in oligopoly.

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Definitions:

Posting Reference Column

A column in journals and ledgers where account numbers related to specific transactions are recorded for tracking purposes.

Ledger Accounts

A complete record of all the financial transactions over the life of a company, organized by account.

Journal Entries

Recorded transactions or adjustments in the financial records of a company, marking the debit and credit of accounts affected by business operations.

Debt Ratio

A ratio indicating the level of a firm's indebtedness by dividing its total obligations by its overall assets.