Assuming that firms do not collude, compare the market outcome under oligopoly with the outcome under perfect competition
What will be an ideal response?
An oligopoly market will produce an output level that is lower than would be produced by a perfectly competitive market. The price of the product will be higher in the oligopoly market than it would be under perfect competition.
Economics
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What are the negative impacts of migration for the nation receiving migrants?
What will be an ideal response?
Economics
Under the adaptive expectations hypothesis, which of the following is the most likely long-run effect of a move to a more expansionary monetary policy?
a. higher prices and no change in real output b. higher prices and expansion in real output c. no change in prices but an expansion in real output d. no change in either prices or real output
Economics