Because the Cost of Starting a Business in an Oligopoly

question 45

Multiple Choice

Because the cost of starting a business in an oligopoly is usually _____,the number of firms entering it is _____.

• A)low / high
• B)high / low
• C)low / low
• D)high/high

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Definitions:

Primarily Liable

Being the first or main party responsible for fulfilling an obligation or debt.

Notice Of Dishonor

A formal notification that a negotiable instrument, such as a check or promissory note, has been presented for payment and refused.

Severe Weather Warning

An advisory issued by meteorological organizations to inform the public of impending dangerous weather conditions.

Reasonably Diligent Holder

A term used in commercial law referring to individuals holding negotiable instruments who take appropriate actions to secure their interests.