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

question 38

Multiple Choice

The profit-maximising level of output and the profit-maximising 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.

---

Definitions:

pH

A scale used to specify the acidity or basicity of an aqueous solution, with values ranging typically from 0 (highly acidic) to 14 (highly basic).

pH

A scale used to specify the acidity or basicity of an aqueous solution, where 7 is neutral, values less than 7 are acidic, and values greater than 7 are basic.

pH

a numeric scale used to specify the acidity or basicity of an aqueous solution, with values below 7 being acidic, above 7 being basic, and 7 being neutral.

pH

A measurement system to determine how acidic or basic a water-based solution is, with a scale that goes from 0 (highly acidic) to 14 (highly basic).