Multiple Choice
If in a given market of more than one producer, there were to exist for a long interval of time a positive gap between price and average cost (P > AC) , this would suggest that
A) there are many sellers in the industry.
B) there exists an oligopoly or cartel in the industry.
C) this is a contestable market.
D) the firm cannot be a monopolistic competitor.
Correct Answer:
Verified
Correct Answer:
Verified
Q21: Oligopolists use advertising as a way of
Q60: Which of the following best expresses the
Q64: Displayed below is the payoff matrix of
Q70: Figure 12-3<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2282/.jpg" alt="Figure 12-3
Q141: What are the assumptions of the kinked
Q149: The key difference between oligopoly and other
Q175: If a market is contestable, then<br>A)long-run economic
Q179: _ is one in which exactly the
Q187: A common characteristic in oligopolistic markets is<br>A)consideration
Q216: Oligopolists behave independently of each other.