The Profit-Maximizing Level of Output and the Profit-Maximizing Price for an Oligopolist

question 83

Multiple Choice

The profit-maximizing level of output and the profit-maximizing price for an oligopolist cannot be calculated when we don't know

• A)what the concentration ratio for the oligopolist's industry is.
• B)what the minimum efficient scale in the oligopolist's industry is.
• C)the demand curve and the marginal revenue curve of the oligopolist.
• D)the type of barrier to entry that exists in the oligopolist's industry.

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Definitions:

Behavioral Assessment

Process that includes the identification and measurement of meaningful response units (including overt behavior, feelings, and cognitions) and their controlling variables (both environmental and organismic) for the purposes of understanding and altering human behavior.

Triadic Reciprocality Model

A theory in psychology that posits human behavior is influenced by the interaction between personal factors, behavior, and the environment.

Controlling Variables

The practice of keeping variables constant or regulated in an experiment to ensure that the results are due to the variable being tested.

Unstructured Observation

Unstructured observation is a qualitative research method where the observer records behavior in a natural setting without a predetermined system or criteria.