Question

Economics Questions 2
1. Economies of Scale is the concept that larger companies can produce products at lower costs per unit than small companies. What market structure out of the four does not contain businesses that benefit from economies of scale?
A. Perfect Competition

B. Monopolistic Competition

C. Oligopoly

D. Monopoly

2. A ________ is a group of firms that agree to act as a single monopoly to increase the market price and
maximize the groups’ profit?
A. Perfect Competition

B. Monopolistic Competition

C. Oligopoly

D. Monopoly