Under an oligopoly market structure, rival firms take completely independent decisions
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
In the Keynesian cross diagram, a decline in autonomous consumer expenditure causes the aggregate demand function to shift down, the equilibrium level of aggregate output to ________, and the IS curve to shift to the ________,
everything else held constant. A) rise; left B) rise; right C) fall; left D) fall; right
The figure above shows the market for tires. The figure shows that the government has imposed a tax of ________ per tire
A) $10 B) $30 C) $40 D) $60 E) None of the above answers is correct.
Gross domestic product (GDP) can be calculated using either the expenditure method or the income method.
Answer the following statement true (T) or false (F)
If planned investment is independent of aggregate output, the planned investment schedule
A. has a positive slope. B. has a negative slope. C. is horizontal. D. is vertical.