Like monopolists, oligopolists are aware that an increase in the quantity of output always
a. reduces the price of their product.
b. reduces their profit.
c. reduces their revenue.
d. reduces productivity.
a
Economics
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In the figure above, the MRS at point A is ________ the MRS at point B
A) equal to B) less than C) greater than D) not able to be compared to
Economics
When new firms enter a perfectly competitive market,
a. demand increases. b. the short-run market supply curve shifts right. c. the short-run market supply curve shifts left. d. existing firms will increase prices to keep the new firms from entering.
Economics