I need help with econ multiple hw questions asap!93) As the number of firms change in an oligopoly market, what will it become? A. As the number of firms increases, the market approaches a monopoly market equilibrium B. As the number of firms increases, the market approaches a competitive market equilibrium C. As the number of firms decreases, the market approaches a socially optimal equilibrium. D. As the number of firms decreases, the market approaches a cartel equilibrium.92) Refer to the attached Table 40. If both stores follow a dominant strategy, what will SuperDuper Saver's growth-related profits be? A. $25 B. $250 C. $85 D. $50 Table 4Two discount superstores (Ultimate Saver and SuperDuper Saver) in a growing urban area are interestedin expanding their market share. Both are interested in expanding the size of their store and parking lot toaccommodate potential growth in their customer base. The following game depicts the strategic outcomesthat result from the game. Growth-related profits of the two discount superstores under two scenarios arereflected in the table below.Table 4|SuperDuper SaverIncrease the size of storeand parking lotDo not increase the size ofstore and parking lotIncrease the sizeof store andparking lotDo not increasethe size of storeand parking lotUltimateSaverSuperDuper Saver = $50Ultimate Saver = $65SuperDuper Saver = $25Ultimate Saver = $275SuperDuper Saver = $250Ultimate Saver = $35SuperDuper Saver = $85Ultimate Saver = $135

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Answered: 93) As the number of firms change in an…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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I need help with econ multiple hw questions asap!

93) As the number of firms change in an oligopoly market, what will it become?

A. As the number of firms increases, the market approaches a monopoly market equilibrium
B. As the number of firms increases, the market approaches a competitive market equilibrium
C. As the number of firms decreases, the market approaches a socially optimal equilibrium.
D. As the number of firms decreases, the market approaches a cartel equilibrium.

92) Refer to the attached Table 40. If both stores follow a dominant strategy, what will SuperDuper Saver's growth-related profits be?

A. $25
B. $250
C. $85
D. $50

Table 4
Two discount superstores (Ultimate Saver and SuperDuper Saver) in a growing urban area are interested
in expanding their market share. Both are interested in expanding the size of their store and parking lot to
accommodate potential growth in their customer base. The following game depicts the strategic outcomes
that result from the game. Growth-related profits of the two discount superstores under two scenarios are
reflected in the table below.
Table 4
|SuperDuper Saver
Increase the size of store
and parking lot
Do not increase the size of
store and parking lot
Increase the size
of store and
parking lot
Do not increase
the size of store
and parking lot
Ultimate
Saver
SuperDuper Saver = $50
Ultimate Saver = $65
SuperDuper Saver = $25
Ultimate Saver = $275
SuperDuper Saver = $250
Ultimate Saver = $35
SuperDuper Saver = $85
Ultimate Saver = $135

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