Oligopoly differs from monopoly as follows:
A) Oligopoly involves a few firms; monopoly involves a single firm.
B) Oligopoly does use advertisement; monopoly does not use advertisement.
C) Oligopoly involves free entry; monopoly involves no free entry.
D) Oligopoly involves a few firms; monopoly involves a single firm and oligopoly involves free entry; monopoly involves no free entry.
Correct Answer:
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Q1: An industry is comprised of 10 firms,each
Q2: A firm's average cost is $20,and it
Q3: A Herfindahl index of 10,000 suggests:
A) perfect
Q4: Suppose that there are two industries,A and
Q5: An unregulated industry has a Lerner index
Q7: Suppose that there are two industries,A and
Q8: Which of the following is NOT one
Q9: Which of the following kinds of market
Q10: When economies of scale are large,firms can
Q11: A Lerner index of 0 suggests:
A) monopoly.
B)
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