Even though in oligopoly the actions of one firm have a perceptible effect on the other firms, oligopoly firms act independently.
Answer the following statement true (T) or false (F)
False
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In the figure above, at the allocatively efficient level of computer production consumers are willing to give up
A) 0 televisions per computer. B) between 0 and 3 televisions per computer. C) 3 televisions per computer. D) more than 3 televisions per computer.
A price taking firm is able to sell its product just slightly above the current market price.
Answer the following statement true (T) or false (F)
In agriculture, where firms producing similar goods are often located near each other, supervision of neighboring firm activity is fairly easy. When these firms come together formally to agree on price and restraint of output, their organization is called a(n)
a. collusive venture b. cartel c. cooperative d. agricultural merger e. conglomerate
What fiscal policy actions did the U.S. government take in 2008 and 2009?
What will be an ideal response?