Explain what an Oligopoly is and how it is different from Monopolistic Competition. Describe a real world Oligopoly. Indicate the firms and explain how they compete.
The post Oligopoly first appeared on COMPLIANT PAPERS.
Explain what an Oligopoly is and how it is different from Monopolistic Competition.
Describe a real world Oligopoly. Indicate the firms and explain how they compete.
What is unique about individual firms’ decision-making in Oligopolies?
Can firms in Oligopolies earn an economic profit?
Explain.
Suppose these firms collude and form a cartel. Using a real life example, explain how a cartel can be stable over the Long Run.
What incentives are there for a cartel to break apart?
Suppose that the cartel breaks apart and the firms engage in very active price competition, as if they were in a perfectly competitive market. Explain how the market price and quantity is now different from
The post Oligopoly first appeared on COMPLIANT PAPERS.
