In an oligopoly
A) firms will attempt to differentiate their products.
B) the market demand curve is kinked.
C) firms will match all price decreases of another but will not match price increases.
D) all of the above
Answer: D
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In the United States, a collusive agreement to restrict output and increases prices is
A) legal. B) the key tool used by oligopolists. C) illegal. D) the key tool used by monopolistic competitors.
In any one year, the Social Security taxes collected by the government must necessarily equal the Social Security payments that the government makes
Indicate whether the statement is true or false
How much did the median wage for college graduates increase over the last two decades?
a. 10% b. 12% c. 14% d. 16%
The two characteristics of a competitive market are 1) many buyers and sellers in the market and 2) the goods offered by the various sellers are highly differentiated.
a. True b. False Indicate whether the statement is true or false