經(jīng)濟(jì)學(xué)原理第三版習(xí)題答案(i)(已修改)
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【正文】 Chapter 16/Oligopoly F 318SOLUTIONS TO TEXT PROBLEMS:Quick Quizzes1. Oligopoly is a market structure in which only a few sellers offer similar or identical products. Examples include the market for tennis balls and the world market for crude oil. Monopolistic petition is a market structure in which many firms sell products that are similar but not identical. Examples include the markets for novels, movies, CDs, and puter games.2. If the members of an oligopoly could agree on a total quantity to produce, they would choose to produce the monopoly quantity, acting in collusion as if they were a monopoly. If the members of the oligopoly make production decisions individually, they produce a greater quantity than the monopoly quantity because selfinterest leads them to produce more than the monopoly quantity.3. The prisoners’ dilemma is the story of two criminals suspected of mitting a crime, in which the sentence that each receives depends both on his or her decision whether to confess or remain silent and on the decision made by the other. The following table shows the prisoners’ choices:Bonnie39。s DecisionConfessRemain SilentClyde39。sDecisionConfessBonnie gets 8 years Clyde gets 8 yearsBonnie gets 20 yearsClyde goes freeRemain SilentBonnie goes freeClyde gets 20 yearsBonnie gets 1 year Clyde gets 1 year The likely oute is that both will confess, since that’s a dominant strategy for both. The prisoners’ dilemma teaches us that oligopolies have trouble maintaining monopoly profits because each oligopolist has an incentive to cheat.4. It is illegal for businesses to make an agreement about reducing quantities or raising prices. Antitrust laws are controversial because it isn’t always clear which kinds of behavior these laws should prohibit, such as resale price maintenance, predatory pricing, and tying.Questions for Review1. If a group of sellers could form a cartel, they would try to set quantity and price like a monopolist. They would set quantity at the point where marginal revenue equals marginal cost, and set price at the corresponding point on the demand curve.2. Firms in an oligopoly produce a quantity of output greater than the level produced by monopoly at a price lower than the monopoly price.3. Firms in an oligopoly produce a quantity of output less than the level produced by a perfectly petitive market at a price greater than the perfectly petitive price.4. As the number of sellers in an oligopoly grows larger, an oligopolistic market looks more and more like a petitive market. The price approaches marginal cost, and the quantity produced approaches the socially efficient level.5. The prisoners39。 dilemma is a game between two people or firms that illustrates why it is difficult for opponents to cooperate even w
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