An Oligopoly with a Dominant Price Leader Will Produce an Output

question 156

Multiple Choice

An oligopoly with a dominant price leader will produce an output level that is ________ than the output level that would prevail if the industry were a monopoly and sells it at a price that is ________ than the price that would prevail if the industry were a monopoly.

• A) higher; higher
• B) higher; lower
• C) lower; lower
• D) lower; higher

---

Definitions:

Transactional Selling

A sales approach focused primarily on achieving quick sales transactions rather than building long-term customer relationships.

SPIN Procedure

A sales technique that involves asking Situation, Problem, Implication, and Need-payoff questions to understand and address customer needs.

New-Task Buying

The process of making a purchase decision for a product or service that a buyer has no previous experience with.

Formula Presentation

A structured and often script-based method of presenting information, where specific points are made in a predetermined order to achieve clarity and impact.