Under oligopoly, firms produce:

Name: Under oligopoly, firms produce:
Brand: Quizplus
Rating: 4.9 (46 reviews)

Question

Quizplus · Accepted Answer

Under oligopoly, firms may produce either a homogeneous product (such as steel or cement) or a differentiated product (such as automobiles or soft drinks). The choice of whether to produce a homogenous or differentiated product depends on the firm's strategy and the nature of the market. Therefore, option (C) correctly states that firms under oligopoly can produce either a homogeneous or differentiated product.

Under Oligopoly, Firms Produce