Why do firms in oligopoly produce many brands of the same good?
Answer to relevant QuestionsWhat is price discrimination? Why would a firm want to price discriminate? Cite examples. Suppose you were head of a nationwide hotel chain that had a supply of 10,000 rooms. And suppose that the demand schedule for these rooms per night was as follows: What would be the most profitable price, assuming you had a ...With two firms in the industry, if the market is contestable, prices will be moderate. Explain. If you wait long enough, monopolies disappear. Explain. Whether you're a dog lover or not, make the case for leash laws.
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