A price war:
A. is one possible consequence of oligopolistic rivalry.
B. never occurs in oligopolistic markets.
C. results in higher profits for sellers.
D. occurs only under perfect competition.
Answer: A. is one possible consequence of oligopolistic rivalry.
You might also like to view...
Real GDP per person is slowly converging around the world
Indicate whether the statement is true or false
Strategic behavior is key feature in which market structure?
A. Monopoly B. Oligopoly C. Monopolistic competition D. Perfect competition
Figure 9.1 represents the market for used bikes. Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon (low-quality) used bike. If buyers believe that 50% of used bikes in the market are lemons (low quality), what fraction of used bikes sold will actually be plums (high quality)?
A. 8/30 B. 22/30 C. 8/22 D. 30/30
If the slope of a straight line is 4 and if Y (the variable on the vertical axis) decreases by 20, then X (the variable on the horizontal axis)
A. decreases by 80. B. increases by 5. C. decreases by 5. D. increases by 80.