Why is oligopoly more difficult to model than competition or monopoly?
Oligopolistic firms make interdependent decisions based on what they think other firms will do. Many models of oligopoly exist depending on the choice of interdependence. Also, there is little guidance on which model is most precise for a particular situation.
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___________ was an ideal supplement to rice farming in the colonies
a. Indigo b. Tobacco c. Wheat d. Ship building.
If we are considering the relationship between two variables and release one of the other- things-equal assumptions, we would expect:
A. the relationship to change from direct to inverse. B. the line representing that relationship on a graph to shift. C. the data points to have a tighter fit to the line representing the relationship. D. the relationship to change from inverse to direct.