Author Question: The theory of oligopolistic interdependence means that the outcome is uncertain because price and ... (Read 81 times)

jasdeep_brar · **on:** Jun 30, 2018

The theory of oligopolistic interdependence means that the outcome is uncertain because price and output decisions depend on responses of rivals.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Marginal cost is best defined as:
a. a cost that does not vary with the rate of output.
b. the difference between fixed and variable cost at any level of output.
c. the amount added to total cost when one more unit of output is produced.
d. the difference between price and average total cost at the profit-maximizing level of output.