One difference between oligopoly firms and firms that are monopolistic competitors is that:
A) the average total cost curves of monopolistic competitors are generally u-shaped, but for oligopoly firms they are not.
B) monopolistic competitors choose a level of output such that marginal revenue equals marginal cost, but oligopoly firms generally do not.
C) monopolistic competitors face lower costs on average than do oligopoly firms.
D) the interdependence among firms is highly significant in oligopoly markets, but not in monopolistically competitive markets.
Correct Answer:
Verified
Q44: An oligopoly firm is generally characterized by:
A)
Q45: Under conditions of oligopoly markets,firms generally don't
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
Q50: An example of an oligopoly is:
A) the
Q51: The Organization of Petroleum Exporting Countries is
Q52: Which of the following is characteristic of
Q53: Cartels are thought to be inherently unstable
Q54: A cartel is:
A) a group of oligopolists
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