The vertical distance between the average total cost curve and the average variable cost curve: (2) (1) Increases as output increases; (2) Decreases as output increases; (3) Is equal to total variable cost per unit of labour; (4) Is negative
The vertical distance between the
variable cost curve:
(2)
(1) Increases as output increases;
(2) Decreases as output increases;
(3) Is equal to total variable cost per unit of labour;
(4) Is negative
Q.1.10 Which one of the following is NOT a characteristic of an oligopoly? (2)
(1) There are a few sellers and many buyers in the industry;
(2) A firm in an oligopolistic market makes pricing decisions without considering
the other firms in the market;
(3) To reduce uncertainty in the market, firms may collude;
(4) Barriers to entry is one of the key features of oligopoly.The vertical distance between the average total cost curve and the average
variable cost curve:
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