The term oligopoly is highly ambiguous in the absence of A) a ...

[bobbysung]

The term oligopoly is highly ambiguous in the absence of
 
  A) a clear and defensible definition of the product.
  B) a clear price structure.
  C) a definition of marginal cost.
  D) accounting rules adequately defining net revenue.
  E) clear distinctions between competitive and noncompetitive industries.

Question 2

Refer to the table above. Suppose that in normal years demand is represented by Case 2 and supply is represented by Case B.
 
  If there is exceptionally good growing weather in the wapanzo bean growing region then supply will ________ and demand will ________. A) become case C; become case 1
  B) become case C; stay at case 2
  C) become case C; become case 3
  D) stay at case B; become case 1

[momo1250]

Answer to Question 1

A

Answer to Question 2

B