Business, 12.03.2021 19:40 nook4boo

In 2008, cruise ship lines announced they were increasing prices from $7 to $9 per person per day because of increased fuel costs. According to one analyst, fuel costs for Carnival Corporation's 84-ship fleet jumped $900 million to $2 billion in 2008 and its cost per passenger per day has jumped from $10 to $33. Assuming that these firms are oligopolistic and the outcome is a Nash-Cournot equilibriumLOADING..., why did prices rise less than in proportion to per-passenger-per-day cost? At the Cournot equilibrium, prices rose less than in proportion to per-passenger-per-day costs because A. . B. only fixed costs affect oligopoly prices. C. marginal costs do not affect oligopoly prices. D. . E. the number of firms must have decreased.

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In 2008, cruise ship lines announced they were increasing prices from $7 to $9 per person per day...