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Author Question: Firms in an oligopoly are said to be interdependent. What does this mean? What will be an ideal ... (Read 102 times)

imowrer

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on: Jun 29, 2018
Firms in an oligopoly are said to be interdependent. What does this mean?
 
  What will be an ideal response?

Question 2

Which of the following costs will not change as output changes?
 
  A) total variable cost
  B) total fixed cost
  C) average variable cost
  D) average fixed cost
  E) marginal cost
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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Ksh22

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Interdependence among firms means that the decisions and business strategies of each firm have a significant impact on the decisions, strategies, and profits of the other firms in the oligopoly industry.

Answer to Question 2

B


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