Two elements that characterize oligopolistic markets are ______ and ______.
a. low concentration ratios; low barriers to entry
b. mutual interdependence; strategizing
c. perfect competition; strategizing
d. many small firms; game theory
b. mutual interdependence; strategizing
You might also like to view...
A good or service or a resource is excludable if
A) it is possible to prevent someone from enjoying its benefits. B) it is not possible to prevent someone from enjoying its benefits. C) its use by one person decreases the quantity available for someone else. D) its use by one person does not decrease the quantity available for someone else.
According to Nobel laureate Ronald Coase, firms exist in order to
A) maximize transactions costs. B) minimize transactions costs. C) maximize transactions. D) employ workers.
The firm in the figure above is in monopolistic competition. The firm has
A) no excess capacity. B) excess capacity of 10 units. C) excess capacity of 20 units. D) excess capacity of 30 units.
As a source of funds for nonfinancial businesses, stocks are relatively more important in
A) the United States. B) Germany. C) Japan. D) Canada.