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Author Question: What are the characteristics of oligopoly?[br][br][b][color=#566D7E]Question ... (Read 29 times)

lak

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on: Jun 30, 2018
What are the characteristics of oligopoly?

Question 2

Which of the following is an advantage of having a marketing cooperative?
 a. Sellers get a steady supply of raw materials for their produce.
  b. Buyers get a steady supply of finished products.
  c. Sellers can save resources they would have spent on marketing and instead specialize in production.
  d. Buyers face lower risks of opportunism.


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Jayson

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Reply #1 on: Jun 30, 2018
Answer to Question 1

The following are characteristics of oligopoly:
 relatively few firms
 products may be homogeneous or differentiated
 very high barriers to entry into the industry
 possible long run economic profits
 firms exhibit a mutual interdependence--their pricing and output decisions affect the decisions and market share of each of the other firms
 difficulty determining the profit-maximizing price and output levels

Answer to Question 2

C


lak

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

daiying98

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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