ECO 561 Final Exam: ECO 561 - If a firm in a purely competitive industry

15) Investing in R&D is more likely to
occur in markets where
A. firms have monopoly power protected by
regulatory barriers
B. markets are closely competitive markets
with close to zero economic profits
C. markets are oligopoly markets with strong
collusion agreements
D. markets are monopolistic competitive
markets
16) All economies of scale are achieved
at the minimum of
A. average total cost
B. total cost
C. average variable cost
D. average fixed cost
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