| Author: | Homework Help Classof1 | ISBN: | 1230000114238 |
| Publisher: | Classof1 | Publication: | March 11, 2013 |
| Imprint: | Language: | English |
| Author: | Homework Help Classof1 |
| ISBN: | 1230000114238 |
| Publisher: | Classof1 |
| Publication: | March 11, 2013 |
| Imprint: | |
| Language: | English |
A company in an oligopolistic industry has identified two sets of demand curves. If the company is the only one that changes prices (that is, other companies don’t follow its lead), its demand curve is Q = 82 – 8P. If, however, it is expected that competitors will follow the price actions of the company, then the demand curve will be Q = 44 – 3P.
A company in an oligopolistic industry has identified two sets of demand curves. If the company is the only one that changes prices (that is, other companies don’t follow its lead), its demand curve is Q = 82 – 8P. If, however, it is expected that competitors will follow the price actions of the company, then the demand curve will be Q = 44 – 3P.
