For an Oligopoly,a Few Firms Cannot Dominate in the Long

question 64

Multiple Choice

For an oligopoly,a few firms cannot dominate in the long run unless

• A)A cartel is formed.
• B)A firm has a high concentration ratio.
• C)Barriers to entry exist.
• D)The market is contestable.

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Definitions:

Exclusionary Rule

A legal principle in the United States that prevents the government from using most evidence gathered in violation of the United States Constitution.

Supreme Court

The highest judicial authority in a country or state, responsible for interpreting the constitution and laws and reviewing lower court decisions.

Good Faith Exceptions

A legal principle allowing evidence collected in violation of privacy rights to be admitted in court if police believed they were following legal procedures.

Fourteenth Amendment

An amendment to the U.S. Constitution, granting citizenship to all persons born or naturalized in the United States and guaranteeing all citizens equal protection under the law.