Author Question: The demand curve faced by an oligopolistic producer depends on how rival firms react to its prices ... (Read 107 times)

stevenposner · **on:** Jun 30, 2018

The demand curve faced by an oligopolistic producer depends on how rival firms react to its prices and policies.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Assume that the market for executive travel is perfectly competitive. If the availability of time-sharing reduces transaction costs and the owner's cost of negotiating for a single trip, which of the following situations must occur?
a. The hours of flight available will increase.
b. The hours of flight available will decrease.
c. The cost of flying will remain steady.
d. The cost of flying will increase.