Oligopolies are industries containing only a few large firms
A. whose decisions are consciously linked.
B. and each faces a horizontal demand curve.
C. that can ignore other firms' reactions as they price, produce, and market their goods.
D. but each firm is small relative to the market.
A. whose decisions are consciously linked.
You might also like to view...
Is there any similarity between a perfectly competitive firm and a monopolistically competitive firm in the long run? Explain your answer
What will be an ideal response?
Monetary policy and fiscal policy are the only factors that influence aggregate demand
a. True b. False Indicate whether the statement is true or false
A publishing house is using 400 printers and 200 printing presses to produce books. The printers' wage rate is $20 and the price of a printing press is $100. The last printer added 20 books to total output, while the last printing press added 50 books to total output. The publishing house
A. could produce the same number of books at a lower cost by using more printing presses and fewer printers. B. should use more printing presses because they are more productive than printers. C. is using the cost-minimizing combination of printers and printing presses. D. could produce the same number of books at a lower cost by using more printers and fewer printing presses. E. should use more printers because they are cheaper than printing presses.
According to classical macroeconomic theory,
A. aggregate supply automatically adjusts to shifts in aggregate demand. B. demand creates its own supply. C. flexible prices, wages, and interest rates assure full-employment equilibrium. D. desired investment typically exceeds desired saving.