The possible alternatives for an oligopoly range from the monopoly case with ________ to the perfectly competitive case with ________
A) high output; low output
B) low prices; high prices
C) low profits; high profits
D) low output; high output
E) no cooperation among the firms; much cooperation among the firms
D
Economics
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When average costs of production are falling, average cost:
a. is higher than marginal cost. b. is equal to price. c. is negative. d. is less than marginal cost.
Economics
Suppose a pharmaceutical company wants to test the effectiveness of a new drug in curing cancer. Which approach should it use to test whether the new drug is more effective than the existing medicines that are widely used?
What will be an ideal response?
Economics