Explain the following.                                                                                               i. Price Consumption Curve ii. Marginal Rate of substitution iii. Oligopoly                            iv. Price discrimination

Attempts 6. Oligopolies This chapter discusses companies that are oligopolists in the market for the goods they sell. Many of the same ideas apply to companies that are oligopolists in the market for the inputs they buy. If sellers who are oligopolists try to increase the price of goods they sell, the goal of buyers who are oligopolists is to try to decrease the prices of goods they buy. Major league baseball team owners have an oligopoly in the market for baseball players. The owners' goal is to keep players' salaries. Keep the Highest/3 True or False: This goal difficult to achieve because baseball players demand more money. O True O False Baseball players went on strike in 1994 because they would not accept the salary cap that the owners wanted to impose. True or False: The owners felt the need for a salary cap to help prevent any team from cheating. O True O False

I need help with econ multiple hw questions asap! 93) As the number of firms change in an oligopoly market, what will it become?  A. As the number of firms increases, the market approaches a monopoly market equilibrium  B. As the number of firms increases, the market approaches a competitive market equilibrium  C. As the number of firms decreases, the market approaches a socially optimal equilibrium.  D. As the number of firms decreases, the market approaches a cartel equilibrium. 92) Refer to the attached Table 40. If both stores follow a dominant strategy, what will SuperDuper Saver's growth-related profits be?  A. $25  B. $250  C. $85  D. $50

Which market structure shown below would be expected to maximize consumer surplus? A. Monopoly B. Oligopoly C. Perfectly Competitive