« previous next »

Author Question: What are the two distinguishing characteristics of oligopoly? What will be an ideal ... (Read 44 times)

Diane

  • Hero Member
  • *****
  • Posts: 576
on: Jun 29, 2018
What are the two distinguishing characteristics of oligopoly?
 
  What will be an ideal response?

Question 2

Assume that both the demand curve and the supply curve for MP3 players shift to the right but the demand curve shifts more than the supply curve. As a result
 
  A) the equilibrium price of MP3 players will decrease; the equilibrium quantity may increase or decrease.
  B) the equilibrium price of MP3 players will increase; the equilibrium quantity may increase or decrease.
  C) the equilibrium price of MP3 players may increase or decrease; the equilibrium quantity will increase.
  D) both the equilibrium price and quantity of MP3 players will increase.


sultansheikh

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 29, 2018
Answer to Question 1

Oligopoly has two distinguishing characteristics: Natural or legal barriers prevent the entry of new firms, and a small number of firms compete in the industry.

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Distinguishing lac+ and lac– by using a red dye Distinguishing lac+ and lac– by using a red dye
Hormones and secondary sex characteristics Hormones and secondary sex characteristics
General Characteristics of Muscular Tissue General Characteristics of Muscular Tissue
Representative pedigrees for two characteristics, each followed through three generations Representative pedigrees for two characteristics, each followed through three generations
Characteristics of a protein-coding gene that can be used during annotation Characteristics of a protein-coding gene that can be used during annotation
Histone Protein Characteristics Histone Protein Characteristics
Video: Phlebotomy

For a complete list of videos, visit our video library