Answer Happy

Which of the following do firms in an oligopoly tend to operate more like? They operate more like competitors. They operate more like monopolies. They can operate like competitors or monopolies. They operate more like perfect competitors. Firms in an oligopoly often face perfectly elastic demand curves. make decisions based on the behavior or expected behavior of their competitors. operate without regard to the behavior of competing firms. Have no control over the price of their product.
Assuming that the monopolistic competitor faces the demand and costs depicted below and finds the profit maximizing level of output, what will be the firm's profit? 36 MC1 ATC₁ 32 28 24 20 16 12 8 4 $12 $-32 $-64 $8 1 2 AVC₁ MR1 D₁ 3 4 5 6 7 8 9