Imperfect Competition and Market Power

question 380

Multiple Choice

Imperfect competition and market power

• A) are major sources of inefficiency.
• B) result in higher output than in perfect competition.
• C) are always the result of product differentiation.
• D) result from diseconomies of scale.

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Definitions:

Ontological

Pertaining to the nature of being, existence, or reality, often considered within the branch of metaphysics dealing with the nature of what is.

Axiological

Relating to the branch of philosophy dealing with values, including those in ethics and aesthetics, as it pertains to research.

Creswell and Plano Clark

Authors known for their work on research methodologies, particularly in mixed methods research.

Qualitative

Pertaining to research or data that is descriptive in nature and concerned with phenomena that are not easily reduced to numbers or quantified.