« previous next »

Author Question: Assuming that firms do not collude, compare the market outcome under oligopoly with the outcome ... (Read 270 times)

faduma

  • Hero Member
  • *****
  • Posts: 528
on: Jun 29, 2018
Assuming that firms do not collude, compare the market outcome under oligopoly with the outcome under monopoly.
 
  What will be an ideal response?

Question 2

If it costs Sinclair 300 to produce 3 suede jackets and 420 to produce 4 suede jackets, then the difference of 120 is the marginal cost of producing the 4th suede jacket.
 
  Indicate whether the statement is true or false


Viet Thy

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jun 29, 2018
Answer to Question 1

An oligopoly market will produce an output level that is greater than would be produced by a monopoly firm. The price of the product will be lower in an oligopoly market than it would be under a monopoly.

Answer to Question 2

TRUE


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Variation in the rate of evolution as a function of the strength of selection, assuming genetic drif Variation in the rate of evolution as a function of the strength of selection, assuming genetic drif
Reconstruction Drawing of Trajan's Market Reconstruction Drawing of Trajan's Market
Hydroelectric power: 2013 Global Market Hydroelectric power: 2013 Global Market
Which outcome corresponds to the reaction:H3AsO4 + 3 OH- → 3 H2O + AsO43-? Which outcome corresponds to the reaction:H3AsO4 + 3 OH- → 3 H2O + AsO43-?
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
The outcome of crosses involving the three types of petite mutations The outcome of crosses involving the three types of petite mutations
Video: Transcription - Introns and exons

For a complete list of videos, visit our video library