An oligopoly will maximize profits where price equals marginal cost, just like a perfectly competitive firm.
Answer the following statement true (T) or false (F)
False
An oligopoly will maximize profits where marginal revenue equals marginal cost, just like a monopoly.
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How does microeconomics differ from macroeconomics? Would the supply of iPhones in the United States be studied under microeconomics or macroeconomics? What about the growth rate of total economic output in the national economy?
What will be an ideal response?
From 1837 and up until the Civil War, the United States adhered to a
A) gold standard. B) silver standard. C) bimetallic standard. D) bronze standard. E) copper standard.
If five firms constitute all of the producers in the wristwatch industry, we would call this market a duopoly.
Answer the following statement true (T) or false (F)
Takeover bids (and the potential for such bids)
a. increase the incentive of corporate managers to perform efficiently. b. increase the likelihood that managers will be able to gain at the expense of stockholders. c. are more likely to occur when a company is producing efficiently and operating profitably. d. serve no useful economic purpose.