Equilibrium price and quantity for a collusive oligopoly are determined according to the intersection of the ____ curve and the horizontal sum of the short-run ____ curves for the oligopolists
a. total revenue; total cost
b. marginal revenue; marginal cost
c. average revenue; average cost
d. marginal revenue; average total cost
b
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Which of the following curves reflects the idea that in the long run, output is determined only by the factors of production and given technology?
A) the aggregate demand curve B) the long-run aggregate supply curve C) the Keynesian aggregate supply curve D) the market supply curve
Fighting alongside the British in the Revolution, the ___________ lost much of their land and position in America after the War
a. Iroquois b. French c. Mexicans d. Sioux
All of a firm's inputs are considered to be variable in the long run
a. True b. False Indicate whether the statement is true or false
A problem with teams is that individuals
A) are too individualistic to work with others. B) prefer piecework pay schemes. C) tend to free ride. D) none of these choices.