In an oligopoly, each firm knows that its profits
a. depend only on how much output it produces.
b. depend only on how much output its rival firms produce.
c. depend on both how much output it produces and how much output its rival firms produce.
d. will be zero in the long run because of free entry.
c
Economics
You might also like to view...
Which of the following represents the change in the capital stock?
A) consumption minus depreciation B) output minus depreciation C) investment minus saving D) investment minus depreciation
Economics
A change in the price of a good causes
A. an increase in demand and a decrease in supply. B. an increase in supply. C. a decrease in supply. D. a change in quantity supplied.
Economics