Individual profit earned by Dave, the oligopolist, depends on which of the following? (i)
The quantity of output that Dave produces
(ii)
The quantities of output that the other firms in the market produce
(iii)
The extent of collusion between Dave and the other firms in the market
A)(i) and (ii)
B)(ii) and (iii)
C)(iii) only
D)(i), (ii), and (iii)

Question

Quizplus · Accepted Answer

Dave's profit depends on his own output, the output of other firms, and any collusion, as these factors influence market prices and competition.

Individual Profit Earned by Dave, the Oligopolist, Depends on Which