The market structure of oligopoly is when
A) there are a small number of interdependent firms that constitute the entire market.
B) there is a single producer of a product.
C) there are many producers of a differentiated product.
D) there are many producers of a homogeneous product.
Answer: A
You might also like to view...
If individuals are convinced that the government will take care of all their medical needs after they retire, then
A) the supply of loanable funds will shift rightward. B) the supply of loanable funds will shift leftward. C) the demand for loanable funds will shift rightward. D) the demand for loanable funds will shift leftward.
If the marginal product of labor increases because of a shift of the MP curve, that will likely cause
a. an increase in the price of output produced by labor b. an increase in labor demand c. an increase in labor supply d. a fall in the wage paid to labor e. a fall in the number of workers employed