The term imperfect competition is used to refer to both oligopoly and monopolistic competition.False
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Q163: Until 1890, trusts in which firms within
Q164: Cartels are illegal in the United States.False
Q165: Suppose all of the firms in an
Q166: The fact that the price effect for
Q167: The noncooperative equilibrium of a prisoners' dilemma
Q169: Oligopolists will earn zero profits unless they
Q170: Each firm in a cartel has an
Q171: To limit competition, oligopolists often practice product
Q172: One of the most inefficient least profitable
Q173: Suppose an industry is composed of seven
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