A Distinguishing Feature of an Oligopolistic Industry Is the Tension

question 92

Multiple Choice

A distinguishing feature of an oligopolistic industry is the tension between

• A)profit maximization and cost minimization.
• B)cooperation and self interest.
• C)producing a small amount of output and charging a price above marginal cost.
• D)short-run decisions and long-run decisions.

---

Definitions:

Automatic Responses

Involuntary reactions to stimuli, not requiring conscious thought, such as reflex actions.

Subconscious Responses

Reactions that occur without conscious thought, often reflexes or actions triggered by stimuli below the level of conscious awareness.

Voluntary

Referring to actions or movements under conscious control by the individual.

Anterior Roots

The front part of a spinal nerve that carries motor output from the spinal cord to the body's muscles.