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Author Question: The demand curve for a normal good shifts leftward if income ________ or the expected future price ... (Read 47 times)

penza

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on: Jun 29, 2018
The demand curve for a normal good shifts leftward if income ________ or the expected future price ________.
 
  A) decreases; falls
  B) decreases; rises
  C) increases; falls
  D) increases; rises

Question 2

What market structures other than oligopoly have the characteristic of one firm's actions affecting the actions of its competitors? Explain your answer.
 
  What will be an ideal response?


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Bsand8

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

A

Answer to Question 2

No other market structure has the characteristic that one firm's actions can affect the actions of its competitors. In monopoly, there are no competitors to affect. And in perfect competition and monopolistic competition, there are so many competitors that any one firm's actions have no measurable impact on its competitors. Oligopoly is unique in that it is the only market structure in which one firm's actions affect the actions of its competitors.


penza

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

kalskdjl1212

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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