What happens as the number of sellers in an oligopoly rises?
Correct answer B. The price in the market moves closer to marginal cost
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Oligopoly MCQs
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What do many economists argue about resale price maintenance?
Correct answer D. It has a legitimate purpose of stopping discount retailers from free riding on the services provided by full-service retailers
ABC Publishing sells an economics textbook and a matching study guide, both with zero marginal cost. Raheel would pay Rs75 for the text and Rs15 for the guide; Mariam would pay Rs60 for the text and Rs25 for the guide. If ABC prices the two products separately, what is the combined total of its best prices?
Correct answer D. Rs 75
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