Which of the following statements characterize an oligopoly market?
a. Oligopoly firms are guaranteed profits due to the lack of competition
b. Firms are aware that their own economic behavior will influence the decisions of rivals.
c. There are few barriers to entry.
d. Firms choose price and output independently from the decisions made by competitors.
b
Economics
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Public schools are often homogenous because of neighborhood attendance boundaries
a. True b. False
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In a Stackelberg game, a monopolist could deter entry from a potential rival by
A) telling the potential rival not to enter. B) strategically moving first. C) moving to a Bertrand model. D) None of the above.
Economics