All of the following are characteristics of an oligopolistic market EXCEPT
A) firms must consider the actions of their rivals.
B) cartels eventually form to keep prices high.
C) firms have the ability to influence prices.
D) firms earn lower profits than a monopoly.
B
You might also like to view...
The United States exports
A) goods only. B) services only. C) manufactured goods only. D) goods and services. E) only agricultural products and high-tech goods.
From the new classical perspective, the disinflation in the early 1980s resulted in a significant recession because
a. the policy change to disinflation was unanticipated. b. the policy was not credible. c. inflationary expectations were backward looking. d. None of the above e. both a and b.
Which of the following items is included in U.S. GDP?
a. the estimated value of production accomplished at home, such as backyard production of fruits and vegetables b. the value of illegally-produced goods and services c. the value of cars and trucks produced in foreign countries and sold in the U.S. d. None of the above is included in U.S. GDP.
Given that Sandy can produce 10 economics reports or 2 sales calls and Tim can produce 2 economics reports or 1 sales call, which of the following would NOT be a mutually agreeable terms of trade for Sandy and Tim?
A) 1 economics report for 1 sales call B) 1 sales call for 3 economics reports C) 1 sales call for 4 economics reports D) 1 economics report for 1/4 of a sales call