In an oligopoly market
A) individual firms pay no attention to the behavior of other firms.
B) one firm's pricing decision affects all the other firms.
C) the pricing decisions of all other firms have no effect on an individual firm.
D) advertising of one firm has no effect on all other firms.
B
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When drawn against the real interest rate, output supply increases if
A) current government expenses increase. B) future government expenses increase. C) current total factor productivity increases. D) the money supply increases.
In the above figure, which wage rate will yield the highest wage rates for particular workers?
A) W1 B) W2 C) W3 D) W3 - W2
The shutdown point of a perfectly competitive firm occurs at the minimum point of its average total cost curve
a. True b. False Indicate whether the statement is true or false
What characteristic of a perfectly competitive firm that causes it to be a price taker?
A. many buyers and sellers B. homogeneous product C. free entry and exit D. Both many buyers and sellers and homogeneous product are correct.