An oligopoly is a market structure in which: a. one firm has 100 ...

[Themember4]

An oligopoly is a market structure in which:
 a. one firm has 100 percent of a market.
  b. there are many small firms.
  c. there are many firms with no control over price.
  d. there are few firms selling either a homogeneous or differentiated product.

Question 2

An economist left her 100,000-a-year teaching position to work full-time in her own consulting business. In the first year, she had total revenue of 200,000 and business expenses of 100,000 . She made a(n):
 a. economic profit.
  b. economic loss.
  c. implicit profit.
  d. accounting loss but not an economic loss.
  e. zero economic profit.

[briseldagonzales]

Answer to Question 1

d

Answer to Question 2

e

[Themember4]

Excellent

[adammoses97]

Gracias!