Author Question: The key feature of an oligopoly is that there A) are many buyers and sellers. B) is one seller. ... (Read 50 times)

vHAUNG6011 · **on:** Jun 29, 2018

The key feature of an oligopoly is that there

A) are many buyers and sellers.
B) is one seller.
C) exists product differentiation.
D) are only a few sellers.

Question 2

The above table shows the demand schedule and supply schedule for chocolate chip cookies. An increase in income results in an increase in the demand for chocolate cookies by an amount of 3 pounds at every price.

What are the new equilibrium quantity and equilibrium price? A) 5 pounds, 4.00 per pound
B) 5 pounds, 6.00 per pound
C) 5 pounds, 5.00 per pound
D) 4 pounds, 5.00 per pound