Why is collusion more likely in cases of oligopoly than in perfect competition?
a. In oligopoly, all firms sell an identical product; but in perfect competition, the product varies between producers.
b. There are too many firms in perfect competition to allow for collusion.
c. Oligopoly moves towards an equilibrium outcome; perfect competition does not.
d. Perfect competition moves toward an equilibrium outcome; oligopoly does not
Ans: b. There are too many firms in perfect competition to allow for collusion.
You might also like to view...
Over the 1980s
A) there is no question that a large increase in U.S. foreign assets did occur. B) there is a question whether a large decrease in U.S. foreign assets did occur. C) there is no question that a large decrease in U.S. foreign assets did occur. D) there is no question that there was almost no change in U.S. foreign assets. E) there is no question that rising exports exceeded U.S. foreign debt.
The term labor productivity refers to the
a. management time required to manage a unit of output b. maximum number of laborers that a production facility can utilize c. ratio of workers' wage rate to the value of the good d. minimum number of laborers required to produce a good e. quantity of output per laborer per hour