A characteristic of an oligopoly is:
a. mutual interdependence in pricing decisions.
b. independent pricing decisions.
c. lack of control over prices.
d. none of these.
a
Economics
You might also like to view...
Economic freedom is a precondition for economic growth. Which of the following is a characteristic of economic freedom?
i. A democratic form of government ii. Property rights must be protected. iii. The government must support and pay for inventions and innovations. A) i only B) ii only C) Both ii and iii D) Both i and ii E) Both i and iii
Economics
If the incremental capital output ratio is 3 and the ratio of saving to national income is 9%, according to the Harrod-Domar model the growth rate of income is
(a) zero. (b) 3%. (c) 6%. (d) 12%.
Economics