The key feature of an oligopoly is that there A) are many ...

[vHAUNG6011]

The key feature of an oligopoly is that there
 
  A) are many buyers and sellers.
  B) is one seller.
  C) exists product differentiation.
  D) are only a few sellers.

Question 2

The above table shows the demand schedule and supply schedule for chocolate chip cookies. An increase in income results in an increase in the demand for chocolate cookies by an amount of 3 pounds at every price.
 
  What are the new equilibrium quantity and equilibrium price? A) 5 pounds, 4.00 per pound
  B) 5 pounds, 6.00 per pound
  C) 5 pounds, 5.00 per pound
  D) 4 pounds, 5.00 per pound

[frankwu0507]

Answer to Question 1

D

Answer to Question 2

B

[vHAUNG6011]

Thanks for the timely response, appreciate it

[amynguyen1221]

Excellent