Which of the following will lead to an oligopoly?
a. If the quantity demanded in the market for cell phones is equal to the quantity produced by the largest firm at the minimum point of its long-run average total cost curve
b. If the quantity demanded in the market for oil tankers is three times the quantity produced by the largest firm at the minimum point of its long-run average total cost curve
c. If the quantity demanded in the market for oil tankers is thirty times the quantity produced by the largest firm at the minimum point of its long-run average total cost curve
d. If the quantity demanded in the market for oil tankers is half the quantity produced by the largest firm at the minimum point of its long-run average total cost curve
b
You might also like to view...
When a nation exports a good or service in which it has a comparative advantage, production of the good or service
A) decreases. B) stays the same. C) increases. D) might change, but more information about what the country imports is needed to determine if production increases, decreases, or does not change. E) might change, but more information about what else the country exports is needed to determine if production increases, decreases, or does not change.
Why did the interest rate volatility of the 1970s spur financial innovation?
What will be an ideal response?