An Important Defence of Oligopoly as a Market Structure Is

question 3

Multiple Choice

An important defence of oligopoly as a market structure is that

• A)it involves less allocative inefficiency than monopoly.
• B)it results in lower prices than perfect competition.
• C)it is the most efficient available alternative when the minimum efficient scale is large.
• D)it generates less unused capacity than monopolistic competition.
• E)it is more productively efficient than monopoly.

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Definitions:

Resting Potential

The voltage difference between the inside and the outside of a neuronal membrane when the neuron is not firing.

Nerve Impulses

Electrical signals that travel along the dendrites and axons of neurons, enabling communication within the nervous system.

Unmyelinated Axons

Refer to nerve fibers that lack a myelin sheath, resulting in slower transmission of nerve impulses compared to myelinated axons.

Gray Matter

The regions of the brain and spinal cord that consist primarily of neuronal cell bodies and are involved in muscle control and sensory perception.