This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Describe the difference in market structure between monopoly and oligopoly. What will be an ideal ... (Read 38 times)

abarnes

  • Hero Member
  • *****
  • Posts: 556
on: Jul 1, 2018
Describe the difference in market structure between monopoly and oligopoly.
 
  What will be an ideal response?

Question 2

You pay 15 for an all-you-can-eat buffet. The food isn't so good, but definitely edible. When you finish eating, what is the marginal value of the last bite of food you consumed?
 
  A) zero
  B) 15
  C) positive
  D) negative


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

sarah_brady415

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jul 1, 2018
Answer to Question 1

Monopoly has only one producer because the product is unique, or has no close substitutes, or government gives it the exclusive authority to produce and sell that product.

Oligopoly has relatively few large firms producing standardized or differentiated products, but for which entry into or exit from the industry is very difficult, so that they are mutually interdependent in their pricing-output decisions.

Answer to Question 2

A


abarnes

  • Member
  • Posts: 556
Reply 2 on: Jul 1, 2018
:D TYSM

at

  • Member
  • Posts: 359
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Brachial Plexus drawing plus the difference in the forearm Brachial Plexus drawing plus the difference in the forearm
The X-ray crystal structure of an S1 fragment of myosin II The X-ray crystal structure of an S1 fragment of myosin II
IgG Antibody Structure IgG Antibody Structure
Basic Chemical Structure of Amino Acids Basic Chemical Structure of Amino Acids
Video: Blood Pressure Measurement

For a complete list of videos, visit our video library