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Price leadership model of oligopoly pricing

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Reference no: EM133313763

Questions

1. What is the price leadership model of Oligopoly pricing and what are its tactics?

2. " In monopolistically competitive markets, neither allocative nor productive efficiency is realized" explain.

3. Do you agree that companies under monopolistic competition can have a profit in the long run?

If yes, why? if no, why not?

4. Compare MPP (marginal Physical product of labor) and MRP (marginal revenue product of labor).

5. In kinked demand curve of Oligopoly, if a company increases its price, how do its competitors react? If a company cuts its price, how do its competitors react?

Reference no: EM133313763

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