Firms operating in an oligopoly
A) always compete on price.
B) always compete on price, product quality and marketing.
C) can make the same profit as a monopoly but there is no assurance that they will do so.
D) usually achieve the competitive outcome.
E) always make the same profit as a monopoly.

Question

Quizplus · Accepted Answer

Oligopolistic firms can potentially achieve monopoly-like profits through collusion or strategic behavior, but there's no guarantee they will do so due to competition and potential for cheating among the firms.

Firms Operating in an Oligopoly