A characteristic of an oligopoly is:
a. mutual interdependence in pricing decisions.
b. independent pricing decisions.
c. lack of control over prices.
d. none of these.
a
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Use the following table to answer the next question. The base year is 2007. Hot DogsBaseballsBottles of SodaYearPriceQuantityPriceQuantityPriceQuantity2005$2.00100$5.0050$2.0010020064.001005.001002.0015020076.001005.001002.0020020088.001508.002004.00200200910.0020010.002004.00250Real GDP (constant dollars) for 2009 equals ________.
A. $5,000 B. $2,300 C. $3,600 D. $2,700
National wealth includes
a. machinery and equipment. b. buildings. c. land. d. All of these.
A shift from D1 to D2 causes equilibrium price to __________ and quantity to __________.
A. rise; rise
B. fall; fall
C. rise; fall
D. fall; rise
Employment can remain the same while the labor force participation rate decreases if unemployment ______________
What will be an ideal response?