The potential for maximizing total industry profits is greater in oligopolies than in perfect competition because
A. There are fewer firms and each is dependent on the actions of rivals.
B. Firms in an oligopoly are more profitable.
C. Perfectly competitive firms can easily cooperate to restrict supply.
D. There are independent firms in an oligopoly.
Answer: A
You might also like to view...
With respect to the classical labor market analysis, it is not assumed that
a. firms have complete information with respect to relevant prices. b. workers negotiate for unique wages individually. c. money wages adjust with a short lag. d. All of the above e. None of the above
Why is the total profit curve shaped like a hill?
What will be an ideal response?
The equation illustrating leakages equal injections in an economy would be:
a. I + S + NT = G + S b. G + S = C + I + X c. S + NT + M = I + G + X d. I + G + X = Rent + Wages + Profits + Interest
It required less labor time to buy a college education in 1995 than it did in 1965.
Answer the following statement true (T) or false (F)