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
You might also like to view...
The above figures show the market for HD televisions. If cable television providers lower the price of providing HD cable service, which figure shows the effect of this change?
A) Figure A B) Figure B C) Figure C D) Figure D E) None of the figures represent this change.
If average cost is falling, then marginal cost must be less than average cost.
Answer the following statement true (T) or false (F)
Assume that deciding to do internally something that was once purchased from a company upstream offers a 10 percent return. What is the cost of this decision?
A) 10 percent. B) less than 10 percent. C) What was given up to do it internally. D) Not enough information is provided.
The short-term interest rate is determined in the:
A. stock market. B. money market. C. loanable funds market. D. exchange rate market.