What is an oligopoly?
What will be an ideal response?
An oligopoly is a market structure characterized by a few dominant firms. Products may be homogeneous or differentiated. The behavior of any one firm in an oligopoly depends to a great extent on the behavior of others.
Economics
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Money eliminates the need for a coincidence of wants primarily through its use as a:
A. store of value. B. medium of exchange. C. unit of account. D. standard of confidence.
Economics
We assume the marginal benefit of consumption ________ as we consume fewer units of a good.
A. remains constant B. decreases C. increases D. could either increase or decrease
Economics