The employees of Ajax cookies are on strike. Jane has decided not to shop at any store that is still selling Ajax cookies. This is known as

Under which of the following conditions could the monopoly price be less than the price that would result in perfect competition? When there are

a. diminishing marginal returns b. substantial economies of scale c. higher unit costs d. increasing costs e. constant returns to scale

Differentiated oligopoly exists where a small number of firms are:

A. producing goods that differ in terms of quality and design. B. setting price and output collusively. C. setting price and output independently. D. producing virtually identical products.