Answered

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Assume all markets are in long-run equilibrium. The market quantity supplied in a duopoly would be ________ the market quantity supplied in a monopoly and ________ the market quantity supplied in a competitive market. a. less than or equal to; less than or equal to b. less than or equal to; greater than or equal to c. less than; equal to d. greater than; equal to e. greater than or equal to; less than or equal to

Sagot :

Answer:

greater than or equal and less than or equal

Explanation:

We assume that all the market belong from long run equilibrium.So the quantity supplied of the market in a duopoly should be either greater or equivalent to the quantity supplied of the market in the monopoly and it should be less or equivalent to the quantity supplied of the market in the competitive market as it is the under competitive market where P = mc

And, under monopoly, there is the condition of the profit maximiation i.e. MR = MC

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