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Author Question: In an oligopoly market with a dominant firm and a competitive fringe, if market demand is _____, the ... (Read 101 times)

lidoalex

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on: Jun 30, 2018
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


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karmakat49

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Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

True


lidoalex

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

kishoreddi

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Reply 3 on: Yesterday
Excellent

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