This topic contains a solution. Click here to go to the answer

Author Question: In an oligopoly market with a dominant firm and a competitive fringe, if market demand is _____, the ... (Read 85 times)

lidoalex

  • Hero Member
  • *****
  • Posts: 538
In an oligopoly market with a dominant firm and a competitive fringe, if market demand is _____, the market price will be low and the _____ profit will be small.
 a. less elastic; fringe's
  b. less elastic; dominant firm's
  c. more elastic; fringe's
  d. more elastic; dominant firm's

Question 2

The price charged by a monopolist is the point on the demand curve that corresponds to the output where marginal revenue equals marginal cost.
 a. True
  b. False
  Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

karmakat49

  • Sr. Member
  • ****
  • Posts: 369
Answer to Question 1

D

Answer to Question 2

True




lidoalex

  • Member
  • Posts: 538
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it


peter

  • Member
  • Posts: 330
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

For a complete list of videos, visit our video library