Which of the following is NOT a feature of Sweezy oligopoly?
A. Each firm believes that rivals will cut their prices in response to a price reduction, but will not raise their prices in response to a price increase.
B. The firms produce differentiated products.
C. Free entry and exit occurs in the market.
D. There are a few firms in the market serving many consumers.
Answer: C
Economics
You might also like to view...
For a person who consumes only steak and lobster, the slope of the budget line is called the marginal rate of substitution between steak and lobster
Indicate whether the statement is true or false
Economics
Under the Gramm-Leach-Bliley Act the oversight of the securities activities of bank holding companies belongs to
A) the SEC. B) the Comptroller of the Currency. C) the U.S. Treasury. D) the Federal Reserve.
Economics