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Author Question: Product differentiation complicates the study of oligopolies because such markets may not a. be ... (Read 102 times)

james

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  • Posts: 573
on: Jul 1, 2018
Product differentiation complicates the study of oligopolies because such markets may not
 a. be efficient.
  b. have prices equal to marginal cost.
  c. have free entry and exit.
  d. obey the law of one price.

Question 2

In a Cournot equilibrium, each firm chooses an output level that
 a. maximizes joint profits.
  b. maximizes the price received.
  c. maximizes profits given what the other firm produces.
  d. maximizes revenue given what the other firm produces.


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macmac

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Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

c


james

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  • Posts: 573
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

ryansturges

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  • Posts: 338
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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