An attempt by one oligopolist to increase its market share by cutting prices will leave competitors unaffected.
Answer the following statement true (T) or false (F)
False
Any attempt by one oligopolist to increase its market share (either by nonprice competition or by cutting prices) will impact the market share of the other oligopolies in the market.
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What is one reason a gambler might bet $1,000 that a sixteenth seed team will win the NCAA basketball tournament?
A) irrationality B) overconfidence C) exuberance D) gambler's fallacy
The number of U.S. workers in unions today is:
A. roughly equivalent to what it was in the 1950s. B. about 13%of all wage and salary workers. C. just under 15 million Americans. D. not something we can estimate due to the lack of information on all people in the labor market.
The primary source of scale diseconomies appears to be
a. a firm's inability to acquire quality resources b. too little demand for the firm's product c. consumers who resist dealing with large firms d. division of labor e. the organizational difficulties of managing an ever larger enterprise
If government adhered strictly to an annually balanced budget, the government's budget would
A. vary in a countercyclical fashion. B. tend to destabilize the economy. C. have no impact upon domestic output and employment. D. tend to stabilize the economy.