Excess supply of a product exerts ___________pressure on prices

Collusion among oligopolistic firms

A. is common in world markets, but does not happen in the U.S. B. becomes easier during a recession when sales are falling. C. becomes more difficult if the firms all have different cost and demand curves. D. becomes more difficult if there were fewer firms in the group.

The monopolist and the perfect competitor are similar in that

A. both operate at peak efficiency. B. both can make a profit in the long run. C. both types of markets have no barriers to entry. D. both try to maximize profits.