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lesya [120]
1 year ago
13

an oligopolist has a marginal revenue curve that jumps down at 500 units of output. what kind of oligopoly does the firm most li

kely belong to? multiple choice stackelberg bertrand sweezy cournot
Business
1 answer:
STALIN [3.7K]1 year ago
6 0

The marginal revenue curve of an oligopolist begins to decline after 500 units of output. Which type of oligopoly does Sweezy's company most likely operate under?

A market system known as an oligopoly occurs when a small number of important sellers or manufacturers dominate a market or an industry (from the Greek words oligos, "few," and v, polein, "to sell"). The result of corporate cooperation to boost profits is typically oligopoly. Numerous industries have been identified as being oligopolistic, including commercial aviation, power providers, telecommunications companies, rail freight markets, food processing, funeral services, sugar refining, beer production, pulp and paper manufacture, and auto manufacturing. Because of the decreased competition, consumer prices would increase and labour earnings will decrease.

Learn More About oligopoly:

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