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Author Question: How is the dominant firm's residual demand curve derived in an oligopoly ... (Read 92 times)

tiffannnnyyyyyy

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on: Jun 30, 2018
How is the dominant firm's residual demand curve derived in an oligopoly market?

Question 2

Which of the following observations is true?
 a. Monopolistically competitive sellers are price takers.
 b. Monopolistically competitive sellers treat price in the same manner as in perfect competition.
  c. Monopolistically competitive sellers regard price as a given by market conditions.
 d. Monopolistically competitive sellers are price makers.


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k.lashomb

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

The residual demand curve that the dominant firm faces is the difference between the market demand and the output supplied by the fringe at each price.

Answer to Question 2

d


tiffannnnyyyyyy

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Reply #2 on: Jun 30, 2018
Thank you :)


k.lashomb

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Reply #3 on: Jun 30, 2018
Happy to help you


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