Differentiated oligopoly exists where a small number of firms are:
A. producing goods that differ in terms of quality and design.
B. setting price and output collusively.
C. setting price and output independently.
D. producing virtually identical products.
Answer: A
Economics
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A) barriers to entry; large number of firms B) no barriers to entry; few firms C) barriers to entry; few firms D) no barriers to entry; large number of firms
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Stagflation occurs when
A) inflation rises and GDP falls. B) inflation falls and GDP falls. C) inflation rises and GDP rises. D) inflation falls and GDP rises.
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