Refer to Figure 2-7. Assume a technological advancement greatly ...

[appyboo]

Refer to Figure 2-7. Assume a technological advancement greatly reduces the cost to produce self-driving vehicles. This is best represented by the
 
  A) movement from K to L in Graph C. B) movement from G to H in Graph B.
  C) movement from H to J in Graph B. D) movement from E to F in Graph A.

Question 2

What is an oligopoly?
 
  What will be an ideal response?

[whitcassie]

Answer to Question 1

D

Answer to Question 2

An oligopoly is a market structure characterized by a few dominant firms. Products may be homogeneous or differentiated. The behavior of any one firm in an oligopoly depends to a great extent on the behavior of others.

[appyboo]

YES! Correct, THANKS for helping me on my review

[samiel-sayed]

Thanks for the timely response, appreciate it