An oligopoly between two firms is called
A) a biopoly.
B) an oligopoly; there are no special terms used for oligopolies with different numbers of firms.
C) a dual-firm oligopoly.
D) a duopoly.
Answer: D
You might also like to view...
Which of the following is the best example of a monopolistically competitive industry?
A) land-based long distance telephone service B) wheat farming C) the local electricity producer D) manufacturing of shirts E) cable television
How does an increase in income affect the market for iPads (normal good)?
a. The demand curve for iPads shifts to the right b. The demand curve for iPads shifts to the left c. The supply curve for iPads shifts to the right d. The supply curve for iPads shifts to the left
Suppose the demand for pens increases and the supply for pens decreases. What effect will it have on the equilibrium price for pens?
a. It will rise b. It will fall c. Uncertain d. None
Which of the following is part of the synthesis view of fiscal policy?
a. During a severe recession, the best policy is a "balanced budget policy." b. During a recession, higher real interest rates and lower net exports will help direct the economy back to full employment. c. Since changes in discretionary policy are easy to time, fiscal policy should be altered in response to each minor disturbance. d. Automatic stabilizers help reduce the fluctuations in aggregate demand and output.