1. Is a
2. What stops oligopolists from acting together as a monopolist and earning the highest possible level of profits? Is there a way for oligopolists to attempt to maximize profits? What are the risks of such attempts (and utimately, generally cause such attempts to fail)?
Since you have posted multiple questions, we will provide the solution only to the first question as per our Q&A guidelines. Please repost the remaining questions separately.
In monopolistically competitive market quantity is produced less compared to perfectly competitive market. Thus an indicator that producers will supply products below their manufacturing capacity.
Step by step
Solved in 2 steps
