« previous next »

Author Question: Refer to Figure 12-5. What is the amount of the firm's fixed cost of production? A) 5,400 B) ... (Read 125 times)

jrubin

  • Hero Member
  • *****
  • Posts: 552
on: Jun 29, 2018
Refer to Figure 12-5. What is the amount of the firm's fixed cost of production?
 
  A) 5,400 B) 6,750
  C) 8,100 D) It cannot be determined.

Question 2

How does the demand curve for an oligopoly firm differ from the demand curves for firms in competitive market structures?
 
  What will be an ideal response?
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


popopong

  • Sr. Member
  • ****
  • Posts: 307
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

The demand curve facing a perfectly competitive firm is horizontal at the prevailing market price. In other words, the perfect competitor does not influence market price; rather it takes the price as given. A firm in an oligopolistic industry can influence market price and therefore faces a downward-sloping demand curve. But not much else can be said about its demand curve because firms in oligopolistic industries are interdependent, that is, each firm reacts to its rivals' behaviors, or at least, to what it thinks its rivals will do. Consequently, it is difficult to determine an individual oligopolist's demand curve.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

jrubin

  • Hero Member
  • *****
  • Posts: 552
Reply #2 on: Jun 29, 2018
Thank you :)


popopong

  • Sr. Member
  • ****
  • Posts: 307
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

The rapid speed of cAMP production The rapid speed of cAMP production
A, Unequal pupils; B, dilated, fixed pupils. A, Unequal pupils; B, dilated, fixed pupils.
One-handed kneading. Tissues are lifted with the whole hand in firm contact. One-handed kneading. Tissues are lifted with the whole hand in firm contact.
Colossal Figure of Akhenaten Colossal Figure of Akhenaten
Cost Accounting: A Managerial Emphasis 16th Edition Cost Accounting: A Managerial Emphasis 16th Edition
question in cost accounting question in cost accounting
Video: Immune responses Animation

For a complete list of videos, visit our video library