Question:

More economics help:+)?

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Oligopoly is a market structure characterized by

independence in decision making

uncertainty about the behavior of rival firms

substantial diseconomies of scale

a large number of small firms

A monopolist or an imperfectly competitive firm practices price discrimination primarily to

increase profits

expand plant size

lower total costs

reduce marginal costs

Public policies toward monopoly in the United States consists of

laws outlawing all of them

regulation of natural monopolies

government takeover if monopoly profit exceeds a certain level

forcing monopoly industries to become perfectly competitive

In monopoly:

because P > MC, a basic condition for efficiency is violated

consumers are confronted with a price that is lower than marginal cost

consumers will consume more of the good than is economically efficient

all

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2 ANSWERS


  1. uncertainty about the behavior of rival firms

    increase profits

    forcing monopoly industries to become perfectly competitive  (though not sure about US)

    because P > MC, a basic condition for efficiency is violated


  2. Oligopoly is a market structure characterized by

    uncertainty about the behavior of rival firms

    A monopolist or an imperfectly competitive firm practices price discrimination primarily to

    increase profits

    Public policies toward monopoly in the United States consists of

    regulation of natural monopolies

    In monopoly:

    because P > MC, a basic condition for efficiency is violated

    (the questions are not propery formulated! Help someone!!)

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