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Author Question: An agreement between the dominant firm and the fringe members to keep output low often breaks ... (Read 71 times)

khang

  • Hero Member
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  • Posts: 569
on: Jun 30, 2018
An agreement between the dominant firm and the fringe members to keep output low often breaks because:
 a. the fringe firms usually appropriate a larger share of the profits.
  b. the agreement is not self enforcing.
  c. the dominant firm usually appropriates a larger share of the profits.
  d. both have an incentive to charge a higher price for their output.

Question 2

If a monopolist is producing the output level at which price equals average total cost in the short run, then the firm is earning a normal profit.
 a. True
  b. False
  Indicate whether the statement is true or false


micaelaswann

  • Sr. Member
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  • Posts: 314
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

True


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