Which situation describes an oligopoly market structure? A. One company builds and sells all of the cars available in a developing country. B. Many different vendors sell the same few T-shirt designs to fans at a concert. C. Solar panels are only available from two companies operating in a country. D. A government gives one company full control over water treatment in a city.

Suppose the number of firms you compete with has recently increased. you estimated that as a result of the increased competition, the demand elasticity has increased from –2 to –3 (i.e., you face more elastic demand). you are currently charging $10 for your product. what is the price that you should charge if demand elasticity is -3?

In the supply-and-demand schedule shown above, at the lowest price of $50, producers supply music players and consumers demand music players.

Galwaysc electronics makes two products. model a requires component a and component c. model b requires component b and component c. new versions of both models are released each year with updated versions of all components. all components are sourced overseas, and abc contracts annually for a quantity of each component before seeing that year’s demand. components are only assembled into finished products once demand for each model is known. for the coming year, alwaysc’s purchasing manner has proposed ordering 500,000 units of component a, 630,000 of component b, and 1,000,000 units of component c. her boss has asked why she has recommended purchasing so much of components a and b when alwaysc will not have enough of component c to fully use all of the inventory of a and b. what factors might the purchasing manager cite to explain her recommended order? explain your reasoning.