Which of the following is true of an oligopoly market?
A) Firms earn zero economic profits in the long run.
B) There are a large number of sellers in the market.
C) The presence of economies of scale discourages new firms from entering the market.
D) Firms choose price and output independently from the decisions made by competitors.
E) There are substantial diseconomies of scale in production.
Correct Answer:
Verified
Q69: Identify the correct statement.
A)A price leader is
Q70: In a collusive oligopoly, joint profits are
Q71: Which of the following is likely to
Q72: Under oligopoly, a few large firms control
Q73: A successful cartel restricts supply so that
Q75: Under conditions of oligopoly, economies of large-scale
Q76: Oligopolies are characterized by:
A)high barriers to entry.
B)zero
Q77: In an oligopoly market, such as the
Q78: One reason collusive oligopolies are usually short
Q79: Which of the following is true of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents