Which of the following is always a characteristic of the oligopoly market structure?
a. Many sellers, each small in size relative to the overall market.
b. Few sellers.
c. All sellers produce identical products.
d. Easy, low-cost entry and exit.
b
Economics
You might also like to view...
Firms should lower the prices on their goods
a. If the demand for the product is elastic b. If it acquires a firm selling a complement good c. If it acquires a firm selling a substitute good d. Both a and b
Economics
The resource based view locates the source of competitive advantage at the
a. Individual firm level b. Industry level c. Both a and b d. None of the above
Economics
All decisions involve opportunity cost
a. True b. False Indicate whether the statement is true or false
Economics
Compare and contrast the expenditure approach and the value-added approach to GDP.
What will be an ideal response?
Economics