Because in oligopoly the actions of one firm has a perceptible affect on the other firms, oligopoly firms act strategically.
Correct Answer:
Verified
Q183: In general, firms in a cartel
A) agree
Q184: Firms in a cartel usually charge
A) the
Q188: Cartels engage in price fixing in order
Q197: In general, the quantity of output in
Q210: Even though in oligopoly the actions of
Q225: List four examples of oligopolies in the
Q226: What are the key characteristics of an
Q233: What is meant be strategic behavior?
Q237: Market power is the power to produce
Q238: What is a four-firm concentration ratio, and
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents