Author Question: If there are no externalities present in a market A) the market price is too low. B) the market ... (Read 132 times)

haleyc112 · **on:** Jun 30, 2018

If there are no externalities present in a market
A) the market price is too low.
B) the market price is too high.
C) the market price is in equilibrium.
D) none of these choices are true.

Question 2

In a collusive oligopoly, joint profits are maximized when a price leader establishes price based on:
a. its own demand and cost schedules.
b. the market demand for the product and the marginal costs of the various firms.
c. the market demand for the product and its own marginal cost schedule.
d. the demand curve faced by a typical competitor and its own marginal cost curve.