An oligopolistic market
a. has a small number of rival firms, and each is large relative to the size of the market.
b. is characterized by firms that merely take the price that is determined by the forces of supply and demand in the market.
c. has low entry barriers facing firms that may be interested in entering the market.
d. has a large number of firms that are small relative to the size of the market.
A
You might also like to view...
The following is NOT an example of a potential monitoring solution to moral hazard
a. blocking social network sites on company computers b. closed circuit TVs throughout a warehouse c. requiring a kitchen remodeling contractor to be 'bonded' d. listening in on call center conversations
Opportunity cost usually
a. cannot be measured b. applies to labor but not to capital c. is involved in calculating economic profit d. is greater than the cash payment made to a resource e. is less than the cash payment made to a resource