One of the defining characteristics of an oligopoly is that:
A. the strategic interactions between a firm and its rivals have a major impact on its profits.
B. there are only a few buyers in the market.
C. there are no barriers to entry to the market.
D. no single firm has an impact on the market as a whole.
Answer: A
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Environmental policies like corporate average fuel economy (CAFE) standards and mandatory technology like catalytic converters _____________________ fuel consumption and emissions without necessarily _________________ the number of automobiles sold.
a. increase; reducing b. increase; increasing c. reduce; reducing d. reduce; increasing e. None of the above.
A curve/line that shows combinations of goods among which a consumer would not desire one combination of goods to another combination of goods on that curve/line is called
A) a budget line. B) an indifference curve. C) a utility possibilities curve. D) a demand curve.