« previous next »

Author Question: What are the two distinguishing characteristics of oligopoly? What will be an ideal ... (Read 129 times)

Diane

  • Hero Member
  • *****
  • Posts: 576
on: Jun 29, 2018
What are the two distinguishing characteristics of oligopoly?
 
  What will be an ideal response?

Question 2

Assume that both the demand curve and the supply curve for MP3 players shift to the right but the demand curve shifts more than the supply curve. As a result
 
  A) the equilibrium price of MP3 players will decrease; the equilibrium quantity may increase or decrease.
  B) the equilibrium price of MP3 players will increase; the equilibrium quantity may increase or decrease.
  C) the equilibrium price of MP3 players may increase or decrease; the equilibrium quantity will increase.
  D) both the equilibrium price and quantity of MP3 players will increase.


sultansheikh

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 29, 2018
Answer to Question 1

Oligopoly has two distinguishing characteristics: Natural or legal barriers prevent the entry of new firms, and a small number of firms compete in the industry.

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Characteristics of burns by depth of thermal injury Characteristics of burns by depth of thermal injury
Characteristics of an effective leader Characteristics of an effective leader
Testing the Chemical Characteristics of Urine with Reagent Strips Testing the Chemical Characteristics of Urine with Reagent Strips
Characteristics of a Neuron at Rest and During the Different Phases of an Action Potential Characteristics of a Neuron at Rest and During the Different Phases of an Action Potential
Characteristics of a protein-coding gene that can be used during annotation Characteristics of a protein-coding gene that can be used during annotation
Characteristics of Three Forms of DNA Characteristics of Three Forms of DNA
Video: Pericarditis

For a complete list of videos, visit our video library