« previous next »

Author Question: Assuming that firms do not collude, compare the market outcome under oligopoly with the outcome ... (Read 282 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?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Nursing sensitive outcome Nursing sensitive outcome
Women who are monozygotic twins and have the same genes are more similar in their marital happiness Women who are monozygotic twins and have the same genes are more similar in their marital happiness
Walter Thompson saw his assets evaporate during the stock market collapse in 1929. Desperate for ... Walter Thompson saw his assets evaporate during the stock market collapse in 1929. Desperate for ...
The early development of the mammalian brain illustrated in schematic horizontal sections. Compare ... The early development of the mammalian brain illustrated in schematic horizontal sections. Compare ...
Outcome of myocardial infarction. Forty percent of 1-week survivors have late complications ... Outcome of myocardial infarction. Forty percent of 1-week survivors have late complications ...
Iraqi market Iraqi market
Video: Protein Secondary and Tertiary Structures - Animation

For a complete list of videos, visit our video library