Oligopoly firms acting individually may seek to gain profits in which of the following ways?
a. By expanding levels of output and cutting prices
b. By selling products that are distinctive in some way
c. By having a mini-monopoly on a brand name
d. By decreasing production and raising prices
a. By expanding levels of output and cutting prices
Oligopoly firms acting individually may seek to gain profits by expanding levels of output and cutting prices.
You might also like to view...
Autarkia imports oil and natural gas and exports food grains to the rest of the world. Based on this information, we can conclude that Autarkia is a(n) ________ economy
A) closed B) command C) open D) communist
Suppose that the consumer price index of a country was 160 at Year X and 168 at the end of Year Y. What was the country's inflation rate during Year Y?
a. 5 percent. b. 8 percent. c. 60 percent. d. 68 percent.