As the number of firms in a Cournot oligopoly ________, the equilibrium quantity gets closer to the ________ equilibrium quantity.
A) decreases; perfectly competitive
B) increases; monopoly
C) increases; perfectly competitive
D) decreases; monopolistically competitive
C) increases; perfectly competitive
Economics
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Why is the Big Mac a good indicator of purchasing power parity?
What will be an ideal response?
Economics
In the market for eggs, a removal of the price ceiling on eggs results in:
a. an increase in the demand for eggs. b. farmers supplying more eggs to the market. c. consumers demanding a larger quantity of eggs. d. farmers supplying less eggs to the market. e. consumers demanding a smaller quantity of eggs.
Economics