03. 11 Oligopoly Essay

03. 11 Oligopoly

FRQ 1

3/6 points gained

a. 2 points; The student stated the North will be better intended for Blue Mart, and this individual stated that Blue Mart earns $4, 000 locating North when compared to $1, 1000 it makes South.

m. 0 factors; The student wrongly claimed that moving To the south was a prominent market technique, and he did not explain how Reddish Shop's greatest strategy will depend on Blue Mart's move.

c. 0 items; incorrectly explained that Reddish Shop could locate North and Green Mart might locate Southern region Red Store would track down North.

i. 1 points; correctly pull the stand with the incentive.

FRQ 2

9/12 details earned

a. 4 details; -graph effectively label, and all the 3 different points pertaining to correctly demonstrating the profit-maximizing Q by MC = MR, S on require curve above MC=MR, and profit in correct area.

b. zero points; The student failed to claim that the demand curve is cost elastic which MR can be positive, thus TR increases if S is lowered.

c. 2 points; students stated the fact that demand competition would shift to the left, and gave right explanation.

d. 1 point; correctly showed long-run equilibrium is at slight get in touch with of ATC

e. 1 point; answered " no” correctly with a acceptable justification

f. you points; will not explain allocative price performance correctly FRQ 2

a. 4 items; The student correctly labeled the graph, included a downward sloping demand curve and a little revenue competition below the require curve. Students also effectively showed Q* and P*, and effectively labeled the region of profit.

b. 0 points; Students failed to suggest that the demand contour is cost elastic and this MR is definitely positive, so TR soars if G is lowered.

i. 2 points; Students stated which the demand shape would change to the left, or perhaps " inwards, ” and explained that this occurs as a result of entry of recent firms.

deb. 1 level; The student properly identified the profit-maximizing volume

e. you point; Trainees correctly responded " no” with a correct explanation

f. 2 details;...



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