In studying oligopolistic markets, economists assume that
a. there is no conflict or tension between cooperation and self-interest.
b. it is easy for a group of firms to cooperate and thereby establish and maintain a monopoly outcome.
c. each oligopolist cares only about its own profit.
d. strategic decisions do not play a role in such markets.
c
You might also like to view...
There are stereotypes (myths) about home-based businesses. Which of the following statements is a stereotype?
a. Most home-based businesses are run by women such as child care centers b. Most home-based businesses are run by men on computers c. It is hard to have a home-based business, too many conflicts d. Most home-based businesses are financially stable, rewarding
If U.S. net exports are $100 billion and the U.S. purchased $250 billion in foreign assets, then what amount of U.S. assets did foreigners purchase?
a. $150 billion b. -$100 billion c. $250 billion d. -$150 billion e. $50 billion
If the net exports component of U.S. GDP is negative, then it is an indication that
a. Americans buy insufficient exports b. Americans buy too many exports c. GDP will be underestimated d. Americans export more than they import e. Americans export less than they import
If the U.S. economy is experiencing falling price levels, the
a. expenditure schedule will shift downward. b. expenditure schedule will shift upward. c. slope of the expenditure schedule increases. d. slope of the expenditure schedule decreases.