The market outcome in a duopoly with homogeneous products is similar to that in ________
A) a perfectly competitive market
B) a monopolistically competitive market
C) a monopoly
D) an oligopoly with differentiated products
A
Economics
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Describe the major types of unemployment
What will be an ideal response?
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If a firm reacts to other firms' market decisions by anticipating how the other will then react, this is:
a. not profit-maximizing behavior b. a monopolistic competitive market c. a market with a low concentration ratio d. mutual interdependence e. collusion by definition
Economics