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Compare the quantity and price of an oligopoly to those of a competitive market?
Wiki User
∙ 11y ago
At profit maximization, marginal cost equals marginal revenue. Price will be higher than marginal cost.
Wiki User
∙ 11y ago
Wiki User
∙ 13y agoOLIGOPOLY :In Economics, an oligopoly is a market form in which a market or industry is dominated by a small number of sellers (oligopolists). Because there are few sellers, each oligopolist is likely to be aware of the actions of the others. The decisions of one firm influence, and are influenced by, the decisions of other firms. Strategic planning by oligopolists needs to take into account the likely responses of the other market participants.
DUOPOLY: A true duopoly is a specific type of oligopoly where only two producers exist in one market. In reality, this definition is generally used where only two firms have dominant control over a market. In the field of industrial organization, it is the most commonly studied form of oligopoly due to its simplicity.
Wiki User
∙ 11y agoCompared to a monopoly, the oligopoly will produce quantities larger than those produced in a monopoly, but the oligopoly’s price will be less than that of the monopoly.
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Is cigarette market a perfectly competitive market?
There is no such thing as a perfectly competitive market. It is merely a economic model to compare other market structures to. Cigarette market is more likely a oligopoly.
Is comcast a monopoly or oligopoly market structure?
Oligopoly
Which is the market structure of the media industry?
Market structure of the media industry: Oligopoly
In a competitive market the equilibrium price and quantity occur where?
When demand curve intersects the supply curve.
In a competitive market free of government regulation?
In a competitive market free of government regulation, the price of a product will continue to adjust. The only time it will stop is when demand is equal to the quantity supplied.
Is cigarette market a perfectly competitive market?
There is no such thing as a perfectly competitive market. It is merely a economic model to compare other market structures to. Cigarette market is more likely a oligopoly.
Explain why a monopolist must lower its quantity relative to a competitive market to maximize its profits?
A monopolist must lower its quantity relative to a competitive market to maximize its profits because the monopolist already controls and owns the largest share of the market.
Why a monopolist must lower its quantity relative to a competitive market to maximize its profits?
A monopolist has to lower its quantity relative to the competitive market to maximize profits because the monopolist is already in control of the biggest part of the market. This means that because they're already in control, to keep the market competitive they need to release the same amount of product as their competition.
Is comcast a monopoly or oligopoly market structure?
Oligopoly
Which is the market structure of the media industry?
Market structure of the media industry: Oligopoly
What is market structure in the media industry?
Oligopoly :)
What is meant by market structure?
An oligopoly is an intermediate market structure between the extremes of perfect competition and monopoly. Oligopoly firms might compete (noncooperative oligopoly) or cooperate (cooperative oligopoly) in the Marketplace.
In a competitive market the equilibrium price and quantity occur where?
When demand curve intersects the supply curve.
In a competitive market free of government regulation?
In a competitive market free of government regulation, the price of a product will continue to adjust. The only time it will stop is when demand is equal to the quantity supplied.
Price wars are prima facie evidence of what economic market?
Oligopoly
Can you use oligopoly in a sentence?
Oligopoly is a market with small number of buyers and sellers.
What is the meaning of the word oligopoly?
An oligopoly is an intermediate market structure between the extremes of perfect competition and monopoly. Oligopoly firms might compete (noncooperative oligopoly) or cooperate (cooperative oligopoly) in the Marketplace.
