An oligopolist's demand curve is
A) identical to that of a perfectly competitive firm.
B) identical to that of a monopolistically competitive firm.
C) vertical on a price-quantity diagram.
D) unknown because a response of firms to price changes by rivals is uncertain.
Answer: D
You might also like to view...
Approximately 1 in 12 business firms fail each year in the Unites States.
Answer the following statement true (T) or false (F)
Giuseppe's Pizza is a perfectly competitive firm. The firm's costs are shown in the table above. If the market price is $15, the firm will
A) shut down. B) leave the market in the long run. C) stay in the market in the long run. D) make an economic profit.
When did the Federal Reserve Act become law?
A) 1836 B) 1913 C) 1936 D) 1951
Another name for the money of checking accounts is
A. certificates of deposit. B. time deposits. C. demand deposits. D. bank notes.