Any Market That Is Served by an Oligopoly Is in Effect

question 198

True/False

Any market that is served by an oligopoly is in effect served by a monopoly.

---

Definitions:

Normal Distribution

A bell-shaped curve that represents the distribution of many types of data where most values cluster around a central mean and probabilities for values taper off equally in both directions.

Probability of Success

The likelihood that an action, experiment, or event will produce a desired outcome, often used in the context of statistical experiments.

Binomial Distribution

A probability distribution that summarizes the likelihood that a value will take one of two independent states across a number of observations or trials.

Normal Approximation

A method used in statistics where a normal distribution is used to approximate a different, often more complex, distribution under certain conditions.