Like a Pure Monopoly,an Oligopoly Is Characterized by

question 57

Multiple Choice

Like a pure monopoly,an oligopoly is characterized by

• A) free entry and exit in the long run.
• B) free entry and exit in the short run.
• C) significant barriers to entry.
• D) all firms in the market producing the socially efficient level of output in the long run.
• E) a single firm selling a product with no close substitutes.

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Definitions:

Empirical Formula

The simplest ratio of the elements in a compound that gives the relative number of atoms of each element.

Molecular Formula

A notation that shows the number and type of atoms in a molecule, without indicating how they are connected.

Elemental Analysis

A method of measuring the relative amounts of each element within a chemical sample.

Empirical Formula

The simplest positive integer ratio of atoms present in a compound, not providing structural information but indicating the proportion of elements.