An oligopoly firm is similar to a monopolistically competitive firm in that BOTH FIRMS HAVE MARKET POWER.
Market power refers to the ability of a company to increase and maintain price above the level that would prevail under competition. When market power is exercised, it usually leads to reduced output and loss of economic welfare.
The correct one would be soliciting. I have a job and I just grab my business cards and hand them out to people. You could use cards ,HUGE signs, and even open meetings with free food. I love those.. P:
I hope this helped! :D
To find the answer you will want to follow the rule of 70. The rule of 70 allows you to find the number of years it takes a variable to double.
In this situation, you would divide 70 by 3.5% (variable) giving you 20 years.
It would take approx. 20 years for the price level to double.
B because if the price goes higher then the supply’s are to decrease
