An oligopolist's demand curve is
A) identical to that of a perfectly competitive firm.
B) vertical on a price-quantity diagram.
C) unknown because a response of firms to price changes by rivals is uncertain.
D) identical to that of a monopolistically competitive firm.
C
Economics
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People who always choose not to participate in fair games are called:
a. risk takers. b. risk averse. c. risk neutral. d. broke.
Economics
In a monopolistically competitive industry, firms set price
a. equal to marginal cost since each firm is a price taker. b. below marginal cost since each firm is a price taker. c. above marginal cost since each firm is a price setter. d. always a fraction of marginal cost since each firm is a price setter.
Economics