Which of the following is unique to oligopoly among all the market structures?
a. product differentiation
b. profit maximization
c. mutual interdependence
d. advertising
e. long-run economic profits
C
You might also like to view...
Refer to Figure 26-15. In the figure above, suppose the economy in Year 1 is at point A and is expected in Year 2 to be at point B. Which of the following policies could the Federal Reserve use to move the economy to point C?
A) sell Treasury bills B) decrease the required-reserve ratio C) buy Treasury bills D) decrease income taxes
Which term is used when the price is above the equilibrium price?
a. shortage b. surplus c. equilibrium d. no market
Historical note: In separate court cases, ALCOA and DuPont both faced charges brought by the government that they
a. flooded the market with output to undermine its competition b. charged excessively high prices c. imposed illegal barriers to entry in their respective markets d. monopolized their markets e. sought to create monopolistic competition in their markets
If the government imposes a $3 tax in a market, the equilibrium price will rise by $3
a. True b. False Indicate whether the statement is true or false