All of the following are characteristics of an oligopolistic market EXCEPT
A) firms must consider the actions of their rivals.
B) cartels eventually form to keep prices high.
C) firms have the ability to influence prices.
D) firms earn lower profits than a monopoly.
Correct Answer:
Verified
Q66: A McDonald's franchise is an example of
A)horizontal
Q67: A firm that backward vertically integrates
A)moves downstream
Q68: Market structure depends upon
A)the ease of entry
Q69: Supply chain management refers to
A)the contracts put
Q70: Under perfect competition
A)information about prices is hard
Q72: Disruptive innovations
A)are created exclusively by start-up companies.
B)can
Q73: Opportunistic behavior may occur when
A)a firm buys
Q74: An oligopoly
A)requires government licensing.
B)has relatively few firms,
Q75: According to economists, competitive firms
A)compete for the
Q76: Toyota's just-in-time system is an example of
A)backward
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