The value denotesthe marginalrevenue gained. 6) Which one of the following characteristics applies to oligopolistic markets? Oligopolies are typically composed of a few large firms. b) upward-sloping a) The possibility of price wars diminishes and profits are maximized. E) cheat on each other. oligopoly, monopoly, monopolistic competition, pure competition pure competition, monopolistic competition, oligopoly, monopoly. D) its profit will rise by the same percentage. Companies often merge to ______ monopoly power. It can be also called as one form. b) Its demand curve is downward-sloping East Asian regimes tend to have similar characteristics First they are orien. E) produce the efficient quantity. 5) A market with a dominant firm and with weak barriers to entry ________ in long-run equilibrium because ________. 2. How are profitability and risk impacted by changes in the current liabilities to total assets ratio? . View full document. Use the figure below to answer the following question. e) may be no more efficient due to a lack of firm interdependence, c) may be less desirable because they are not regulated by government to protect consumers. B. El valor de cambio del bien se mide segn el trabajo que este tiene incorporado. D. 2021. Marginal revenue = Change in total revenue/Change in quantity sold. Besides, high capital requirements, licensing, patents, market demand, economies of scale, limit-pricing, and customer loyalty restrict the entry of new businesses. C) assumes that marginal revenue equals marginal cost only at the quantity at the "kink." D)There is more than one firm in the industry. 12) Because an oligopoly has a small number of firms All firms stick to what has been decided, thereby ensuring price stability in the sector. In such a system, determining the proportion of total product used for investment . b) u-shaped E) None of the above. a) An outcome in the payoff matrix from which one firm wants to deviate since the current strategy is not optimal given the rival's strategic choice. Its main characteristics are discussed as follows: 1. *To increase control over the product's price a) The possibility of price wars diminishes and profits are maximized. d) Its marginal revenue curve would consist of two segments, d) Its marginal revenue curve would consist of two segments d) monopolistically competitive market, The study of how one firm reacts to the actions taken by another firm or individual when implementing a strategy is called _____. E) entry into the industry of rival firms will raise cartel profit as long as the new firms join the cartel. 41) Refer to Table 15.3.12. Advertising can reduce efficiency by ______. The payoff matrix of economic profits above displays the possible outcomes for Bob and Jane who are involved in game of whether or not to advertise. It determines the law of demand i.e. As a result, both brands consistently work on the design, user interface, camera, and other aspects of their smartphones to make sure customers stick to their brand. B) Firms are profit-maximizers.C) The sales of one firm will not have a significant effect on other firms. E) marginal cost. Here, they focus on each other and try to exceed customer expectations in every possible way. C) the HHI for the industry is small. D) Dr. Smith advertises only if Dr. Jones advertises. 11) Because an oligopoly has a small number of firms, A) each firm can act like a monopoly. C) Miller has a dominant strategy but Bud does not. B) the firms may legally form a cartel. d) their profits and sales will rise. *The firm's profits will be higher. *The firm is failing to produce at the profit-maximizing output. a) prices; uncertainty; increase b) competitively Our assessments, publications and research spread knowledge, spark enquiry and aid understanding around the world. In short,AI oligopoly is all set to shape the market, comprising a few large AI service providers dominating and influencing others in the business. 5. The presidents friend constructs and sells single family homes. A) Strategic Independence An oligopoly is an industry dominated by a few large firms (Few sellers supplying, many buyers). What are the 4 characteristics of oligopoly? Such companies have complete control of the market, earning high profits and gains in a specific sector or service. A) This game has no dominant strategies. Monopolistic Competition 4. Oligopoly Models: 1. D) neither is protected by high barriers to entry. a) By decreasing total suppliers The distinguishing characteristics of oligopoly are briefly explained below: 1. Pure or Perfect Oligopoly: If the firms produce homogeneous products, then it is called pure or perfect oligopoly. Each firm faces a downward-sloping demand curve. C) a perfectly competitive market. price changes, not production costs, so it can't be b. c) They lose most of their excess-production capability. D) 2,750. 4) Which one of the following industries is the best example of an oligopoly? c) regulated monopoly a) over collusion However, at this price profit of firm B is not maximized.The profit-maximizing price of firm B isPB (>PA) and the quantity is Xbe (

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