Under conditions of oligopoly markets,firms generally don't like to compete based on price.Why?
A) Because no producer has a cost advantage in doing so.
B) Because consumers rarely spend time making price comparisons between different brands.
C) Because competing on the basis of price can set off a price war among competitors and significantly reduce profits to the firm.
D) Because price competition is illegal in most states.
Correct Answer:
Verified
Q40: An industry characterized by only a few
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Q43: Which of the following is a unique
Q44: An oligopoly firm is generally characterized by:
A)
Q46: If an oligopolist reduces the price of
Q47: Overt collusion is relatively rare because:
A) they
Q48: Which of the following is true for
Q49: One difference between oligopoly firms and firms
Q50: An example of an oligopoly is:
A) the
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