Why is collusion about the price and amount of output impossible in monopolistic competition?
What will be an ideal response?
The smaller the number of firms, the more likely collusion is to occur. Monopolistic competition has too many firms for collusion to be successful.
Economics
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An increase in both the equilibrium price and quantity can be the result of
A) a decrease in demand. B) an increase in supply. C) a decrease in supply. D) an increase in demand. E) None of the above answers is correct.
Economics
A type of ________ problem that occurs when a person or institution has multiple objectives that conflict with each other is called ________
A) moral hazard; conflicts of interest B) adverse selection; conflicts of interest C) moral hazard; spinning D) adverse selection; spinning
Economics