An oligopoly:

Name: An oligopoly:
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Question

An oligopoly:

Quizplus · Accepted Answer

A) Both oligopoly and monopolistically competitive markets produce less and charge higher prices than perfectly competitive markets because of the lack of competition.
B) In an oligopoly, firms are interdependent and their pricing decisions depend on the actions of their competitors.
C) The kinked demand curve is a common feature of oligopoly markets, where rivals match price decreases but do not follow price increases, leading to a gap or "kink" in the demand curve.

An Oligopoly