1. What is the Nash equilibrium in the price competition homogeneous-product oligopoly? 2. Why do the firms charge the same price in equilibrium?
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1. What is the Nash equilibrium in the
2. Why do the firms charge the same
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- What are the number of firms in a oligopoly and what is the price control of product by individual firms.a) Using the following graph state the price and quantity the firm will be at if the oligopoly market is competitive and in long run equilibrium. Explain why the firm will be at that price and quantity. MC ATC 1 E 10 20 30 40 50 60 70 80 Quantity b) Using the same graph explain what the price and quantity would be if the market formed a cartel. Explain the cartel and how it works, and why firms form them. Price and Cost (dollars)Explain why an industry with economies of scale for larger firms tends to be an oligopoly. Why don't we see this for an industry like local restaurants?
- Compare the quantity and price of an oligopoly tothose of a perfectly competitive market.What is the characteristics of oligopoly. Please explainWhich of the following is the primary reason an oligopoly is not a pure price maker? A. Dominant pricing strategy B. Product differentiation C. Dependent on pricing decisions of competitors
- Which of the following industries operates in an oligopoly market structure? * O Vegetables O Hair salons O Comic Books O Fast Food RestarauntsWhich of the following would most likely create the setting for an Oligopoly ? A. The government grants T'Challa and Nakia a patent for their respective vibranium-based electric car batteries. B. Market Demand is two or more times less than the quantity needed to produce at the minimum of the Average Cost Curve. C. Market Demand is two or more times greater than the quantity needed to produce at the minimum of the Marginal Cost Curve. D. Insumountable technological difficulty associated with producing similar products serves as an effective Barrier to Entry. E. All of the AboveWhy does the interdependence of firms play a major role in oligopoly but not in perfect competition?
- What are the types of the oligopoly market??What are the main characteristics of oligopoly? How does output and price compare to that of perfect competition? What are the main characteristics of oligopoly? How does output and price compare to that of perfect competition? View keyboard shortcuts EditViewInsertFormatToolsTable 12pt ParagraphExplain the concept of price leadership in an oligopoly market Need the answer as soon as possible
