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Author Question: Product differentiation complicates the study of oligopolies because such markets may not a. be ... (Read 94 times)

james

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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
Wow, this really help

AmberC1996

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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