An oligopolistic industry is characterized by
A. strategic behavior.
B. having no market power.
C. one dominant firm in the industry.
D. free entry and exit.
Answer: A
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Answer the next question on the basis of the data given for two regions, East and West, of a hypothetical world. The nations have the production possibilities for units of food and clothing given below.East Production PossibilitiesWest Production Possibilities ABCD ABCDFood241680Food4530150Clothing04812Clothing051015Which of the following is true?
A. For the West region, the cost of 5 units of clothing is 10 units of food. B. For the East region, the cost of 8 units of food is 8 units of clothing. C. For the West region, the cost of 15 units of food is 5 units of clothing. D. For the East region, the cost of 4 units of clothing is 6 units of food.
A payment made by the government to private producers of roads and libraries would be an example of
A) a subsidy. B) a copyright. C) a voucher. D) public provision. E) a Coase payment.
You have a bond that entitles you to a one-time payment of $10,000 one year from now. The interest rate is 10 percent per year. How much is the bond worth today?
a. $9,090.91 b. $10,000.00 c. $8,264.46 d. $9,523.81
For which of the following policies is there a significant implementation lag?
a. fiscal policy and monetary policy b. fiscal policy but not monetary policy c. monetary policy but not fiscal policy d. neither monetary policy nor fiscal policy