Which of the Following Is Characteristic of Oligopoly, but NOT

question 214

Multiple Choice

Which of the following is characteristic of oligopoly, but NOT of monopolistic competition?

• A) The choices made by one firm have a significant effect on other firms.
• B) Each firm faces a downward-sloping demand curve.
• C) Firms are profit-maximizers.
• D) There is more than one firm in the industry.

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Definitions:

Advocacy

The act of speaking or acting on behalf of a cause, policy, or individual to influence public opinion or decision-making.

Indirect Costs

are expenses not directly tied to a specific product or service production but necessary for the organization's overall operations, such as utilities or administration salaries.

Hard Costs

Direct, tangible expenses associated with the execution of a project, such as materials and labor costs.

Expenditures

The act of spending or disbursing money, particularly in relation to business or government expenses.