For which of the following types of firm does the average revenue curve coincide with the marginal revenue curve?
a. A monopolist
b. An oligopoly firm
c. A monopolistically competitive firm
d. A perfectly competitive firm
e. A monopsonist
d
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Which of the following is an example of risk diversification?
A) an individual purchasing only IBM stock B) an insurance company writing earthquake insurance only for the Los Angeles area C) an individual investing all of her savings in a single, new firm D) a lumber mill purchasing trees from various forests across the western United States
The price charged by oligopolists will
a. equal the equilibrium price in a price-takers market if the oligopolists collude. b. equal the monopoly price if the oligopolists do not collude. c. generally fall between the monopoly and competitive market equilibrium prices. d. be the same whether the oligopolists cooperate with one another or not; only profit is affected.