Oligopolies would like to act like a
a. duopoly, but self-interest often drives them closer to the competitive outcome.
b. competitive firm, but self-interest often drives them closer to the duopoly outcome.
c. monopoly, but self-interest often drives them closer to the duopoly outcome.
d. monopoly, but self-interest often drives them closer to the competitive outcome.
D
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Figure 17-9
Refer to . Before the tariff is imposed, this country
a.
imports 200 carnations.
b.
imports 400 carnations.
c.
exports 200 carnations.
d.
exports 400 carnations.
Refer to the table below. If Sweet Grams is a perfectly competitive firm and the market price $1.00 per unit, what is the profit-maximizing quantity for Sweet Grams to produce at Plant 2?
Sweet Grams makes graham cracker snack packages. Sweet Grams is a multi-plant firm with two production facilities. The above table summarizes the total marginal cost of production at various output levels in the separate plants. Assume Sweet Grams is a perfectly competitive firm.
A) 20,500
B) 22,500
C) 27,000
D) 24,000