In an oligopolistic industry, the price firms charge and the quantity they produce would be the same as if the industry were a monopoly if
A. the oligopolists collude.
B. the market is contestable.
C. the oligopolists behave as Cournot assumed.
D. one of the oligopolists acts as a dominant firm price leader.
Answer: A
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What accounts for specialization?
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The misperception effect explanation for an upward-sloping short-run aggregate supply curve is based on: a. falling profit margins as the price level rises
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