Which Is Not a Characteristic of Oligopoly

question 41

Multiple Choice

Which is not a characteristic of oligopoly?

• A)Each firm faces a downward-sloping demand curve.
• B)Firms are profit-maximizers.
• C)The sales of one firm will not have a significant effect on other firms.
• D)There is more than one firm in the industry.
• E)Firms set prices.

---

Definitions:

Union Shop Agreements

A type of labor agreement that requires employees to join a union within a certain timeframe after being hired.

Right to Work

Laws or policies that ensure an individual’s right to work without being forced to join or pay fees to a labor union.

Grievances

Complaints or disputes raised by employees against their employers regarding contract violations, working conditions, or other employment issues.

Typical Grievance Procedure

A formal process through which workers can complain about workplace issues or conflicts, typically involving a series of steps leading to a resolution.