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Author Question: A firm can find a competitive advantage A) by differentiating its product. B) by having a barrier ... (Read 30 times)

mrsjacobs44

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on: Jun 30, 2018
A firm can find a competitive advantage
 A) by differentiating its product.
  B) by having a barrier to entry.
  C) through its organizational structure.
  D) all of these choices.

Question 2

Explain why under oligopoly conditions firms might wish to choose pricing and output strategies together. What is this arrangement called?


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CAPTAINAMERICA

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Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

If firms can agree together about pricing and output strategies, they may be able to function in the market as a monopoly, thereby increasing the profits for all firms. This is called a cartel. Frequently cartels are short-lived because there is a strong incentive for individual firms to undercut the cartel price to increase their market share and their profits.


mrsjacobs44

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Reply #2 on: Jun 30, 2018
Thank you


CAPTAINAMERICA

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Reply #3 on: Jun 30, 2018
No problemo


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