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Author Question: In an oligopoly industry, price: a. will be lower than the competitive price, due to cost savings. ... (Read 26 times)

clmills979

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on: Jun 30, 2018
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.


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jaymee143

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

c

Answer to Question 2

b


clmills979

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

ricroger

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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