Which of the following is a characteristic of oligopoly?

A) mutual firm independence
B) zero economic profits in the short run
C) marginal cost pricing
D) only a few firms in the industry


Answer: D

Economics

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A. will; the monetary incentive they have to produce them B. will not; the externality problem C. will not; the free rider problem D. will; the market shortage that often accompanies the production of public goods. E. none of the above

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A telecommunication company divided into different divisions for residential and business Internet service is an example of

a. An M-form of an organization b. A functional organization c. An N-form organization d. All of the above

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A price above equilibrium always yields a surplus

a. True b. False Indicate whether the statement is true or false

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In the petroleum industry, proved reserves are

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Economics