Which of the following is a similarity between a monopoly and an oligopoly with differentiated products?
A) There are no barriers to entry in both markets.
B) The long-run equilibrium price in both markets exceeds marginal cost.
C) There is a single seller in both markets.
D) Firms in both the markets earn zero profit in the long run.
B
Economics
You might also like to view...
An import is a product
A) produced in and purchased by residents of the home country. B) produced in the home country and sold in another country. C) produced in and sold to the residents of a foreign country. D) produced in a foreign country and purchased by the residents of the home country.
Economics
Why is national defense better off as a natural monopoly? What other industry or service do you think should be a natural monopoly?
What will be an ideal response?
Economics