
An oligopolist differs from a perfect competitor in that
A) there is cutthroat competition in perfect competition but little competition in oligopoly because firms have significant market power.
B) firms in an oligopoly do not produce homogeneous products while firms in perfect competition do.
C) the market demand curve for a perfectly competitive industry is perfectly elastic but it is downward-sloping in an oligopolistic industry.
D) there are no entry barriers in perfect competition but there are entry barriers in oligopoly.
Correct Answer:
Verified
Q14: Marginal revenue for an oligopolist is
A)identical to
Q15: If an industry is made up of
Q16: Producing a homogeneous product occurs in which
Q17: The value of the four-firm concentration ratio
Q18: Which of the following is not a
Q20: A characteristic found only in oligopolies is
A)break-even
Q21: Which of the following is not a
Q22: As a measure of competition in an
Q23: A reason why there is more competition
Q24: Economies of scale can lead to an
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