Learning outcome micro 16 discuss the functions of

Learning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies in
oligopolies
AACSB: Reflective Thinking
9

ESSAY. Write your answer in the space provided or on a separate sheet of paper.
37) The breakfast cereal industry has a four - firm concentration ratio of 78 percent. Is this enough information to
classify the industry as an oligopoly? Is a high concentration ratio evidence that an industry is not competitive?
Diff: 2 Page Ref: 460/460
Topic: Concentration Ratio
Learning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies in oligopolies
AACSB: Analytic Skills
38) Firms in an oligopoly are said to be interdependent. What does this mean?
Diff: 1 Page Ref: 460/460
Topic: Interdependence
Learning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies in oligopolies
AACSB: Reflective Thinking
39) Most economists are concerned about entry barriers. Why is this so important to them?
Diff: 3 Page Ref: 461 - 463/461 - 463
Topic: Barriers to Entry
Learning Outcome: Micro 16: Discuss the functions of cooperation, competition, and public policies in oligopolies