One of the defining characteristics of an oligopoly is that:
A. one firm's behavior can affect the others' profits.
B. all firms act independently to create a perfectly competitive outcome.
C. all firms act independently to create a monopoly outcome.
D. None of these statements is true.
A. one firm's behavior can affect the others' profits.
You might also like to view...
Since the 1970s, the United States has had higher unemployment rates than most European countries.
Answer the following statement true (T) or false (F)
The loanable funds market brings together savers and borrowers to determine the
a. marginal rate of return on investment b. rate of time preference c. market rate of interest d. marginal resource cost of investment e. marginal revenue product of investment
A __________ is a person who was employed in the civilian labor force and was either fired or laid off
A) new entrant B) reentrant C) job leaver D) job fixer E) none of the above
If demand is represented as Qd = 20 - 3P and supply is represented as Qs = 4 + 5P, the equilibrium price is
A. $2. B. $3. C. $7. D. $14.