In a small town the level of demand is capable of supporting only two gas stations. This market is
A) a natural duopoly.
B) perfectly competitive because a homogeneous good is being sold.
C) operating as if it was a monopoly.
D) an example of monopolistic competition.
Correct Answer:
Verified
Q5: A market structure in which a small
Q6: Natural oligopoly is a situation where
A) the
Q7: Which of the following is a defining
Q8: Suppose that all pizza companies have the
Q9: If firms in an industry differentiated their
Q11: A market structure in which a small
Q12: The key feature of an oligopoly is
Q13: Which of the following is a distinguishing
Q14: In oligopolistic markets
A) there are many firms.
B)
Q15: A natural oligopoly can form
A) if there
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