An oligopoly occurs when there
A. is only one seller in a market.
B. are a large number of sellers in a market producing a variety of products.
C. are a large number of sellers producing similar products.
D. are only a few sellers in a market.
Answer: D
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What will be an ideal response?
Refer to the table above. France has absolute advantage in
A) grapes. B) textiles. C) both grapes and textiles. D) neither grapes nor textiles.
The German bond market
A) is very large by international standards. B) is very small by international standards. C) is about the same size as the U.S. bond market. D) shrunk considerably in the 1990s.
The consumption function shows the relationship between:
a. planned consumption expenditures and disposable income. b. permanent income and savings. c. business inventory and real GDP. d. aggregate demand and aggregate consumption.