An oligopoly is a market:
a. dominated by a few buyers.
b. dominated by one buyer

Can a monopoly make an economic profit in the long run? Explain your answer

What will be an ideal response?

In the above figure, if the firm increases its output from Q1 to Q2, it will

A) reduce its marginal revenue. B) increase its marginal revenue. C) decrease its profit. D) increase its profit.