1. What stops oligopolists from acting together as a monopolist and earning the highest possible level of profits? Is there a way for oligopolists to attempt to maximize profits? What are the risks of such attempts (and utimately, generally cause such attempts to fail)?

Q: Assume a market for crude oil, and let D denote the demand of oil while MC the marginal cost. The…

A: Given, P=100-10q Mc = 20q

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A: A monopsony market is a market structure in which there is only one buyer or a dominant buyer of a…

Q: If a cost-minimizing firm sells its services in an oligopolistic market, with a marginal product of…

A: Answer: The cost-minimizing condition is given below: MPLw=MPKrWhere,MPL=marginal product of…

Q: PART 2. Are existence of profits / higher rates of return a sure sign of market power and DW…

A: Industry A  C=50+10q+2q2 Industry B  Few firms cost function 50+10q+2q2 only 2 firms cost 10+10q+q2…

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Q: Homework 3 A. Dominant firm model questions Assume a market of a crude oil market. The world demand…

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A: Answer in Step 2

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A: An oligopoly is a market structure that is characterized by a small number of firms dominating the…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Step 1: Understand the given information.There are two firms (Firm 1 and Firm 2) selling two…

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Q: 12. What is the best example of competition in capitalism? When McDonalds and Burger King compete by…

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Q: ood/service will and the quantity sold will

A: Answer The diagram shows that ATC is the average total price and Mc is the cost. The purpose of…

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A: Poor countries are unable to secure drugs, due to the expensive patented drugs and inability to…

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A: The market demand schedule is given by Price Quantity4550406035703080259020100151101012051300140The…

Q: 3. Below is the table representing the cost of production and demand schedule for Roxxy's Wigs.…

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A: * ANSWER :-

Q: Consider the dominant firm price leadership model.  Suppose there is an increase in fringe firms’…

A: Meaning of Market: The term market refers to the situation under which the producers or the…

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A: Answer in Step 2

Q: 20. How is a monopoly (or oligopoly for that matter) able to remain that way? Okay, let's say a…

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Q: a. Suppose 24 firms are in this industry. What is the equation for market supply? QS =

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Q: This chapter discusses companies that are oligopolists in the markets for the goods they sell. Many…

A: Oligopolists in Input MarketsIf sellers who are oligopolists try to increase the price of goods they…

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A: In the monopsony market only one buyer and one seller. In this market optimal condition be determine…

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A: The revenue generated by the sale of an additional good or unit is referred to as marginal revenue.…

Q: Write short notes on  Mercantilism Absolute Cost advantage theory Leontief Paradox  Contract…

A: DISCLAIMER  “Since you have asked multiple question, we will solve the first 3 subparts for you. If…