Oligopolies Would Like to Act Like a

question 5

Multiple Choice

Oligopolies would like to act like a

• A)duopoly, but self-interest often drives them closer to the perfectly competitive outcome.
• B)competitive firm, but self-interest often drives them closer to the duopoly outcome.
• C)monopoly, but self-interest often drives them to charge a higher price than would be charged by a monopoly.
• D)monopoly, but self-interest often drives them closer to the perfectly competitive outcome.

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Definitions:

Profitable

Describes a situation, project, or enterprise that results in financial gain or benefit.

Management Consulting

A professional service that provides expertise and advice to businesses seeking to improve their operations, strategy, and performance.

Singing Career

The professional pursuit of performing music vocally, which may include live performances, recording, and collaborating with other musicians.

Profits

The financial gain obtained when the revenue generated from business activities exceeds the expenses, costs, and taxes involved in maintaining the business.