This topic contains a solution. Click here to go to the answer

Author Question: In an oligopoly industry, price: a. will be lower than the competitive price, due to cost savings. ... (Read 89 times)

clmills979

  • Hero Member
  • *****
  • Posts: 551
In an oligopoly industry, price:
 a. will be lower than the competitive price, due to cost savings.
  b. will exceed the monopoly price, due to the destructiveness of competitive forces.
  c. cannot be predicted exactly, because it is likely to lie between the competitive and monopoly prices.
  d. none of these.

Question 2

Normal profit is a term for:
 a. explicit profit.
  b. the minimum profit to keep a firm in operation.
  c. the accounting profit forgone.
  d. pure economic profit.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jaymee143

  • Sr. Member
  • ****
  • Posts: 341
Answer to Question 1

c

Answer to Question 2

b




clmills979

  • Member
  • Posts: 551
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it


xoxo123

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

For a complete list of videos, visit our video library