If the supply curve of the fringe in the oligopoly market is ...

[joblessjake]

If the supply curve of the fringe in the oligopoly market is highly elastic:
 a. the dominant firm will command a higher share of market output.
  b. the price chosen by the dominant firm will be high.
  c. the dominant firm's profit will be lower.
  d. the market price for the commodity will be low.

Question 2

A monopolist earns only normal profits in the long run.
 a. True
  b. False
  Indicate whether the statement is true or false

[brbarasa]

Answer to Question 1

C

Answer to Question 2

False