Aggregate output is ________ related to autonomous consumer expenditure, and is ________ related to the level of taxes

One of the defining characteristics of an oligopoly is that:

A. the strategic interactions between a firm and its rivals have a major impact on its profits. B. there are only a few buyers in the market. C. there are no barriers to entry to the market. D. no single firm has an impact on the market as a whole.

A competitive firm

a. is a price maker, whereas a monopolist is a price taker. b. and a monopolist are price makers. c. and a monopolist are price takers. d. is a price taker, whereas a monopolist is a price maker.