In oligopolistic markets
A) there are many firms.
B) there are no barriers to entry.
C) there are only a few firms.
D) all firms are price takers.
C
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Refer to Figure 15-16. Which of the following would be true if government regulators require the natural monopoly to produce at the economically efficient output level?
A) This results in a misallocation of resources. B) The firm will sustain persistent losses and will not continue in business in the long run. C) The marginal cost of producing the last unit sold exceeds the marginal benefit. D) The firm will break even.
Gross domestic product is equal to the market value of all goods and services
a. exchanged during a period. b. produced domestically during a period. c. produced by the citizens of a nation during a period. d. produced domestically during a period minus the depreciation of productive assets.