58. As the number of firms change in an oligopoly mariet, what will it become? A

Question

58. As the number of firms change in an oligopoly mariet, what will it become? As the number of firms increases, the market approaches a monopoly market a. As the number of firms increases, the market approaches a competitive mar equilibrium b. et As the number of firms decreases, the market approaches a monopolistically c market equilibrium. c. el Competitive s decreases, the market-appreae 59. Which relationship represents the consumer's optimum choice? 60. A perfectly competitive firm's marginal cost has a minimum value minimum value of S5; and its average total cost has a minimum firm shut down? a. below $5 b. below $2 c below $4 of $4 value i its average alue of $6. At what

Explanation / Answer

As number of firms start increasing in oligopoly, the market structure starts moving towards perfect competition.

OPTION B

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