An oligopoly is a market dominated by a few sellers
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
What would be the output combination for two products A and B on the production possibility frontier, if a country uses its entire resources for producing A?
a. A - Maximum; B - Zero b. A- Maximum, B - Maximum c. A - Zero, B - Maximum d. A - Zero, B - Minimum
Changes in nominal GDP reflect
a. only changes in prices. b. only changes in the amounts being produced. c. both changes in prices and changes in the amounts being produced. d. neither changes in prices nor changes in the amounts being produced.
The characteristic most closely associated with oligopoly is:
A. product standardization. B. easy entry into the industry. C. no control over price. D. a few large producers.
Refer to the above table. In a choice between education and public safety:
What will be an ideal response?