Assume there are currently five firms producing and selling fertilizer in the South American market. Also assume that the product is differentiated and barriers to entry are high in the industry, making this market an oligopoly. If two firms were to exit the market, economists expect the equilibrium price will likely
a) not change
B) decrease
c) increase
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Assume there are currently five firms producing and selling fertilizer in the South American market. Also assume that the product is ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
A new truck, manufactured by General Motors Corp. (GMC), had a defective alternator that caused it to stall on a busy highway. The driver set up emergency flares around the stalled truck, but congestion on the highway made them difficult to see.
Answers (1)
Barbara wants to reconcile her bank statement. She needs to calculate beforehand and look for when she gets her statement.
Answers (1)
Household cleaning products, paints, glues, and pesticides are examples of
Answers (1)
If Gerry makes a deposit of $1,500 at the end of each quarter for five years, how much will he have at the end of the five years assuming a 12% annual return and quarterly compounding?
Answers (1)
What is an advantage of a sole proprietorship? a. guaranteed profits c. limited personal liability b. control over decision making d. unlimited access to resources.
Answers (1)
New Questions in Business
ABC Co. uses a perpetual inventory system and uses the FIFO cost flow assumption. During the month, it had two sales. Calculate the dollar value of its cost of goods sold for the first sale made on Jan. 10.
Answers (1)
Which one of the following an example of direct foreign investment? A. a U. S bank granting a loan to a Guatemalan firm. B. A U. S government foreign aid grant to Bangladesh. C. The purchase of debt issued by the Panamanian government. D.
Answers (1)
Assume there are currently five firms producing and selling fertilizer in the South American market. Also assume that the product is differentiated and barriers to entry are high in the industry, making this market an oligopoly.
Answers (1)
An increase in the supply of money in an economy could be caused by (choose all that apply) : a. an increase in the discount rate. b. a decrease in the discount rate. c. an increase in the required reserve ratio. d.
Answers (1)
Assume cash = $500, notes payable in six months = $600, accounts receivable = $900, inventory = $1,500, and accounts payable = $1,100. What is the quick ratio?
Answers (1)