Which of the following is a characteristic of oligopoly?
A) mutual firm independence
B) zero economic profits in the short run
C) marginal cost pricing
D) only a few firms in the industry
Answer: D
Economics
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The rate of interest charged by the Federal Reserve to member banks for reserves borrowed from the Fed is known as the:
a. federal funds rate. b. discount rate. c. repurchase rate. d. Q-ceiling rate.
Economics
Which of the following is an implicit cost of production?
A) the loss in the value of capital equipment due to wear and tear B) the salary you pay yourself for running your business C) the utility bill paid to water, electricity, and natural gas companies D) the interest you pay your mother for the money she loaned you to start your business
Economics