When an oligopolist individually chooses its level of production to maximize its profits, it produces an output that is ?

A model of Game theory of oligopoly is known as the ?

A. Prisoner’s Dilemma

B. Monopoly Cell

C. Jailhouses Sentences

D. Jury Box

Suppose that ABC publishing sells an economics textbook and accompanying study guide. Raheel is willing to pay Rs75 for the text and Rs15 for the study guide. Mariam is willing to spend Rs60 for the text and Rs25 for the study guide. Suppose both the book and study guide have a zero-marginal cost of study production. If ABC publishing charges separate price for both products its best strategy is to charge price that when combined, total ?

A. Rs 85

B. Rs 75

C. Rs 80

D. Rs 60

Many economics argue that resale price maintenance ?

A. has a legitimate purpose of stopping discount retailers from free riding on the services provided by full services retailers?

B. is price fixing and, therefore is prohibited by law

C. is price fixing and therefore, is prohibited by law and enhances the market power of the producer

D. enhances the market power of the producer

As the number of sellers in an oligopoly increases ?

A. output in the market tends to fall because each firm must cut back on production

B. the price in the market moves further from marginal cost

C. collusion is more likely to occur because a larger number of firms can place pressure on any firm that defects

D. The price in the market moves closer to marginal cost

Suppose an oligopolist individually maximizes its profits. When calculating profits, if the output effect exceeds the price effect on the marginal unit of production, then the oligopolist ?

A. Should produce more units

B. has maximized profits

C. is in a Nash equilibrium

D. Should produce fewer units

E. should exit the industry