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Katen [24]
2 years ago
7

An oligopoly firm is similar to a monopolistically competitive firm in that A) both firms face the prisoner's dilemma. B) both o

perate in a market in which
Business
1 answer:
deff fn [24]2 years ago
5 0

Both firms have market power.

<u></u>

<h3><u>How Do Oligopolies Work?</u></h3>

An oligopoly is a market structure comprising a few enterprises, none of which can prevent the others from having a sizable impact. The concentration ratio calculates the largest companies' percentage of the market. A market with a monopoly has just one producer, a duopoly has two businesses, and an oligopoly has three or more businesses. The maximum number of firms in an oligopoly is unknown, but it must be low enough such that each firm's activities have a major impact on the others.

Learn more about Oligopolies with the help of the given link:

brainly.com/question/14285126?referrer=searchResults

#SPJ4

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Which of these products or services is likely to have an inelastic supply in the short run?
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I collect baseball cards. I do not sell any cards and I let my collection grow. The number of cards in my collection grows at 5%
Elena L [17]

Answer: 14.4 years

Explanation:

You can use the Rule of 72 to find out.

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7 0
2 years ago
Please calculate GDP using the following information: Government purchases - $200 billion Depreciation - $60 billion Investment
Pepsi [2]

Answer:

The GDP is $860 billion.

Explanation:

The gross domestic product (GDP) can be calculated using the expenditure approach formula as follows:

Y = C + I + G + (X - M) ....................................... (1)

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Y = GDP = ?

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I = Investment - $80 billion

G = Government purchases = $200 billion

X = Exports = $100 billion

M = Imports = $120 billion

Substituting the values into equation (1), we have:

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7 0
2 years ago
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