Like monopolists,what do oligopolists know about the result of an increase in the quantity of output
A)It reduces the price of their product.
B)It reduces their profit.
C)It reduces their revenue.
D)It reduces productivity.

Question

Quizplus · Accepted Answer

Oligopolists, like monopolists, have some control over the price of their product due to their significant market share. When there is an increase in the quantity of output, the market becomes saturated, and the price of the product decreases. Therefore, oligopolists know that an increase in the quantity of output will reduce the price of their product.

Like Monopolists,what Do Oligopolists Know About the Result of an Increase