Mutual interdependence among firms in an oligopoly means that: ...

[big1devin]

Mutual interdependence among firms in an oligopoly means that:
 a. firms never practice price leadership.
  b. firms never form a cartel.
  c. it is difficult to know how firms will react to decisions of rivals.
  d. no formal agreement is possible among firms.

Question 2

Suppose a firm has total revenue of 200 million, explicit costs of 190 million, and implicit costs of 20 million. This firm's accounting profit is:
 a. 80 million.
  b. 70 million.
  c. 10 million.
  d. 10 million.

[maaaaaaaaaa]

Answer to Question 1

c

Answer to Question 2

c

[big1devin]

Thanks for the timely response, appreciate it

[jackie]

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