a. Suggests why prices tend to stay rigidb. Illegal in the United States.c. Suggests that oligopolies sometimes choose not to profit maximize|d. Suggests that firms make decisions not in their best interests because they are notallowed to cooperate.Choices.Game theoryRevenue maximizationCollusion/cartelKinked demand curve

An oligopoly is a market structure in which a small number of firms dominating the market. The…

Answered: a Suggests why prices tend to stay…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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In Game Theory, there is an incentive to cheat. Please explain both the prisoner’s dilemma and the payoff matrix related to this incentive to cheat. Why can Game Theory be an effective way to conduct business strategy? Why is it important to understand what industry you are in before you can develop a strategy in Game Theory?
Which of the following is a feature of an oligopoly? a. group behavior among firms b. firms that are all similar in size c. low barriers to entry d. highly flexible pricing
Which market structure shown below would be expected to maximize consumer surplus? A. Monopoly B. Oligopoly C. Perfectly Competitive
A group of firms explicitly colluding to make price and output decisions is called a ) price leadership. b ) a cartel. c ) a concentrated industry. d ) an oligopoly.
Which of the following is not true about oligopoly? A. there are few sellers B. profit is higher if there is collusion C. collusion is always subject to threat of a member violating the collusive agreement D. a cartel is an official organization of oil exporting countries which aims to maximize the profits for the group E. all are true
What is the big advantage of oligopoly? Question 10 options: Oligopolies are more predictable than monopolistic competition or a monopoly. As an economy of scale oligopoly may produce more goods with a lower cost of production. Oligopolies will always promote technological progress. Trade wars between oligopolies stimulate healthy competition
In an oligopoly market, the firms would earn the highest profit if they A.chose to ignore the actions of rival firms. B. chose to produce an output equal to the perfectly competitive output level. C. chose to ignore the implications of game theory. D.chose to produce the output equal to the monopoly output level.
Choose a market for a good that you use often in real life and explain whether the market is perfect competition, monopoly, monopolistic competition, or oligopoly using the definition of the four different market structures. Please provide explanations
Match each of the four market structures covered in this course with the description of the market structure. Perfect Competition [Choose ] V Monopolistic Competition [Choose ] Oligopoly [Choose ] Monopoly [Choose ]
Question 20 In the market for a brand name medicine with a single company selling the medicine, that company is a_______Eventually, the government lets other companies sell the medicine as a "generic" alternative to the brand name. The effect of this increased competition is to_______ the medicine's price.O. monopoly, decreaseO. oligopoly, decreaseO. monopoly, increaseO. oligopoly, increase
What are the factors contributing to the rise of oligopolies and monopolies during the observation period in the article "The Emergence of Oligopoly" by Eichner, Alfred S. (2019)
A study shows that the 4 largest firms in the auto industry in the US produce 70% or more of the cars in the US. This means the auto industry is classified as: A. Oligopoly B. Perfectly competitive C. Monopoly D. Monopolistic Competitive

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