New Technologies May Reduce Oligopoly Power by

question 44

Multiple Choice

New technologies may reduce oligopoly power by

• A)increasing the minimum efficient scale
• B)raising barriers to entry
• C)raising prices and lowering output
• D)reducing barriers to entry
• E)reducing the choices available to consumers in the market

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Definitions:

Applied Research

A form of systematic inquiry involving the practical application of science. It accesses and uses some part of the research communities' (the academia's) accumulated theories, knowledge, methods, and techniques, for a specific, often state-, business-, or client-driven purpose.

Darwin's Theory

The scientific theory of biological evolution that explains how species evolve over time through natural selection.

Functionalists

Scholars in various fields, especially in sociology and psychology, who study how societal institutions and processes function to meet the needs of a society or an individual.

Perspectives

Different ways of viewing or approaching a subject or issue, influenced by individual experiences, beliefs, and knowledge.