What are the features of an oligopoly, explain with examples

/in /by

What are the features of an oligopoly, explain with examples

You might also like
Consider a firm that has just built a plant, which cost $1,000. Each worker costs $5.00 per hour. Based on this information, fill in the table below. (7 marks) Weeks Sanitizer sales 1 5600 2 5200 3 4570 4 4305 5 5465 6 8900 7 15680 8 24680 9 35040 10 36500 11 38575 12 35300 13 35200 14 35150 15 34950 16 345005 Number of Worker Hours Output Marginal Product Fixed Cost Variable Cost Total Cost Marginal Cost Average Variable Cost Average Total Cost 0 0 -- -- -- 50 400 100 900 150 1300 200 1600 250 1800 300 1900 350 1950
A perfectly competitive firm Cat Paradise sells clothing for cats. A cat-suit sells for $72 each. The fixed costs for production are $100. The total variable costs are $64 for one suit, $84 for two suits, $114 for three suits, $184 for four suits, and $270 for five suits. a) In a table, calculate TR, MR, TC and MC for each output level (one to five suits). (10 marks) b) What is the profit maximizing quantity? (5 marks) c) If the advent of new and better technology in a perfectly competitive market leads to a large reduction in costs of production, how will this affect the market?
Explain the three categories of returns to scale relating to the long-run average cost curve.
Why was agriculturesector declared as a critical industry and exempt from the hardest lockdown regulations
find the equilibrium level income and rate of interest from the following information C=40+0.8Yd, 110-5r, T=50, G=50, Md=0.2y-5r, Ms=100
Saron spends 150 birr per month on coffee and cake at the cafeteria. A cup of coffee costs 15 birr and a cake costs 10 birr. a) Write the equation for Saron’s cafeteria budget constraint and draw it in a diagram. b) Assume that Saron never drinks coffee without eating one cake, and never eats cakes without drinking coffee. How much of each will she consume? Draw some of her indifference curves. c) What do we call goods that are always consumed in the same proportion?
What factors are likely to reduce the holdings of inventory in relation to sales in the future? What factors will tend to increase the ratios and what in your judgement is the net effects?
State whether the Statement is TRUE or FALSE. Also write the reason (Without reason your answer will not accepted) a) If value of cross price elasticity is positive then it means there are less close substitutes are available of that product. b) In case of luxury products, the own price elasticity of demand is greater than one. c) If salaries of journalist go up then demand curve of newspaper will shift upward d) When price elasticity of supply is greater than one it means supply curve is flatter.