Assume all markets are in long-run equilibrium. The market quantity supplied in

Question

Assume all markets are in long-run equilibrium. The market quantity supplied in an oligopoly would be _________ the market quantity supplied in a monopoly and _________ the market quantity supplied in a competitive market.

A.) less than; less than   B.) less than; greater than   C.) less than; equal to   D.) greater than; equal to   E.) greater than; less than

Similarily, assume all markets are in long-run equilibrium. Market price in an oligopoly would be _________ the market price in a monopoly, and _________ the market price in a competitive market.

A.) less than; less than   B.) less than; reater than   C.) less than; equal to   D.) greater than; equal to   E.) greater than; less than

Explanation / Answer

optino B is correct

2. option C is correct. the price will be greater in oligopoly and equal to market price in a competitive market

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