Suppose the airplane market is an oligopoly. According to the figure above, if the firms act as a monopolist, the quantity produced will be ________ planes per week and if the firms act as competitors the quantity produced will be ________ planes per
week. A) 6; 12
B) 12; 6
C) 0; 6
D) 12; 0
E) None of the above answers is correct.
A
Economics
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What will be an ideal response?
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Often trade will not occur because
a. transaction costs are too high b. neither party has an opportunity cost c. the benefits to one party just equal the losses to the other party d. no one expects to gain from the trade e. the profits of the firm are excessive
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