Tag: oligopoly

How does a firm then maximize its total revenue? Describe the relationship of the demand curve and total revenue, indicating in which of the four types of market structures this market-pricing power would occur (i.e., pure competition, monopolistic competition, oligopoly, monopoly) in the long run?

pressays

Please answer in 75 to 150 words or more. The definition of a price maker is a “firm with some power to set price because the demand curve for its output slopes downward,” which in effect, means those firms with Read More …