What is the distinguishing characteristics of oligopoly in relation to the other forms of the other market organizations? What is its significance? In which sector of the USA economy is oligopoly most relevant?
What is the distinguishing characteristics of oligopoly in relation to the other forms of the other market organizations? What is its significance? In which sector of the USA economy is oligopoly most relevant?
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter10: Monopolistic Competition And Oligoply
Section: Chapter Questions
Problem 9SQ
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Question
What is the distinguishing characteristics of oligopoly in relation to the other forms of the other
market organizations? What is its significance? In which sector of the USA economy is
oligopoly most relevant?
An oligopolistic firm from the telecommunication industry in USA follows demand-and-cost
situation in 2009.
Price in USD($) Quantity Total cost
20 7 36
19 8 45
18 9 54
17 10 63
16 11 72
15 12 81
i. How much output should the oligopolistic produce? What price should it charge and
what is the maximum profit can this firm earns?
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