Oligopoly is a situation when there
A) is one firm in the industry that is fairly large.
B) are a few large firms in the industry.
C) are too many firms in the industry and there is excess capacity.
D) is one giant firm and many smaller firms forming a competitive fringe.
B
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Which of the following is an example of physical capital?
a. the available knowledge on how to make semiconductors b. a taxi-cab driver's knowledge of the fastest routes to take c. bulldozers, backhoes and other construction equipment d. All of the above are correct.
What are the primary effects of cost-push inflation?
A. It raises real output, and redistributes an increased level of real income B. It reduces real output and redistributes a decreased level of real income C. It raises real output, but redistributes a decreased level of real income D. It reduces real output, but redistributes an increased level of real income