This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: One key characteristic that is distinctive of an oligopoly market is that: a. the demand curve ... (Read 64 times)

Pea0909berry

  • Hero Member
  • *****
  • Posts: 573
on: Jun 30, 2018
One key characteristic that is distinctive of an oligopoly market is that:
 a. the demand curve facing each firm is downward sloping, with a marginal revenue curve that lies below the firm's demand curve.
  b. the decisions of one seller often influences the price of products, the output, and the profits of rival firms.
  c. there is only one firm that produces a product for which there are no good substitutes.
  d. there are many sellers in the market and each is small relative to the total market.

Question 2

A firm has 200 million in total revenue and explicit costs of 190 million. Suppose its owners have invested 100 million in the company at an opportunity cost of 10 percent interest rate per year. The firm's economic profit is:
 a. 400 million.
  b. 100 million.
  c. 80 million.
  d. zero.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

akpaschal

  • Sr. Member
  • ****
  • Posts: 342
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


Pea0909berry

  • Member
  • Posts: 573
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

mcabuhat

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Mackerel tabby, showing the characteristic "M" on its forehead. Mackerel tabby, showing the characteristic "M" on its forehead.
The Light Curve of a Nova The Light Curve of a Nova
A Receiver-Operating-Characteristic (ROC) Curve A Receiver-Operating-Characteristic (ROC) Curve
The Radioactive Decay Curve The Radioactive Decay Curve
Stock Market Question Stock Market Question
Effects of acidosis and alkalosis on the oxyhemoglobin dissociation curve Effects of acidosis and alkalosis on the oxyhemoglobin dissociation curve
Video: Functional zones in a mitochondrion

For a complete list of videos, visit our video library