Under Oligopoly

question 48

Multiple Choice

Under oligopoly:

• A) there are many sellers in the industry.
• B) there are only a few sellers in the industry.
• C) the demand for each firm's output is perfectly elastic.
• D) there are no barriers to entry.

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Definitions:

Double Bonds

Chemical bonds between two atoms involving four bonding electrons instead of the usual two, making the bond stronger and the molecules more reactive.

Covalent Bonds

Electron pairs shared between atoms result in the formation of chemical bonds.

Molecular Shapes

The three-dimensional configurations of atoms within a molecule, influenced by the chemical bonding and spatial distribution of electrons.

Carbon Atoms

The chemical element atoms with six protons in their nuclei, serving as the basic building blocks of organic compounds.