« previous next »

Author Question: Assuming that firms do not collude, compare the market outcome under oligopoly with the outcome ... (Read 201 times)

faduma

  • Hero Member
  • *****
  • Posts: 528
on: Jun 29, 2018
Assuming that firms do not collude, compare the market outcome under oligopoly with the outcome under monopoly.
 
  What will be an ideal response?

Question 2

If it costs Sinclair 300 to produce 3 suede jackets and 420 to produce 4 suede jackets, then the difference of 120 is the marginal cost of producing the 4th suede jacket.
 
  Indicate whether the statement is true or false


Viet Thy

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jun 29, 2018
Answer to Question 1

An oligopoly market will produce an output level that is greater than would be produced by a monopoly firm. The price of the product will be lower in an oligopoly market than it would be under a monopoly.

Answer to Question 2

TRUE


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Variation in the rate of evolution as a function of the strength of selection, assuming genetic drif Variation in the rate of evolution as a function of the strength of selection, assuming genetic drif
All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co
Which outcome corresponds to the combination of silver and carbonate ions shown in the ... Which outcome corresponds to the combination of silver and carbonate ions shown in the ...
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
The outcome of crosses involving the three types of petite mutations The outcome of crosses involving the three types of petite mutations
Video: Gastrin (gastric emptying) & Secretin (buffering gastric acid)

For a complete list of videos, visit our video library