In a Cournot oligopoly with N-number of firms and identical marginal costs, if the number of firms decreases because firms exit, we know that the markup of price over cost will Group of answer choices increase. decrease. stay the same. unknown for lack of other information.

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19-04-2022
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In a Cournot oligopoly with N-number of firms and identical marginal costs, if the number of firms decreases because firms exit, we know that the markup of price over cost will Group of answer choices increase. decrease. stay the same. unknown for lack of other information.

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Parrain Parrain · Answer 1 · 2022-04-25T13:57:11+02:00

If the number of firms in a Cournot oligopoly decreases because firms exit the market, the markup over price will most likely stay the same.

What would happen to the price if firms exited a Cournot oligopoly?

If firms exited the Cournot oligopoly, and the number of firms decreased, the remaining firms will increase their production levels to get to the previous levels.

This will mean that the price in the market will not change because the quantity supplied will remain the same.

Find out more on courtnot oligopolies at https://brainly.com/question/13635083.