An Oligopolist Cannot Use the MR = MC Rule to Find

question 62

Multiple Choice

An oligopolist cannot use the MR = MC rule to find its equilibrium output level because

• A)oligopolists do not face stable demand curves for their output
• B)oligopolists do not try to maximize profits in the long run
• C)it is too difficult to estimate marginal cost
• D)the rule applies only in perfect competition
• E)the minimum efficient scale exceeds total quantity demanded

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Definitions:

M

In machining and engineering, "M" often refers to a metric specification or the designation for milling operations in G-code programming.

Square Bar

A type of metal or wooden bar with a square cross-section.

Welding Symbol

Symbols used on blueprints and technical drawings to indicate the type, size, and length of welds used in the fabrication of metal parts.

Reference Line

A line on a drawing that serves as a basis or guide, commonly used to reference dimensions or to anchor annotation symbols such as those for welding.