Author Question: Oligopoly firms: a. usually act as if they were a monopoly producer. b. generally charge a price ... (Read 66 times)

colton · **on:** Jun 30, 2018

Oligopoly firms:
a. usually act as if they were a monopoly producer.
b. generally charge a price for goods and services equal to marginal cost.
c. base their pricing and output decisions on the likely responses of rival firms.
d. are isolated from competition by low barriers to entry.

Question 2

Which of the following exemplifies specific performance that a court might order from the party in breach of a contract?
a. A seller ordered to pay back the price of the commodity to the customer having failed to deliver it on-time.
b. A popular singer requested to forgo the fee for her performance at a social fund raising program.
c. The owner of a polluting factory ordered to convert his private plot into a public garden.
d. A movie director ordered to work with an actress he had previously contracted with, instead of one he later found was available for a lower price.