Pricing and Output Determination Under an Oligopoly Is More Complicated

question 157

Multiple Choice

Pricing and output determination under an oligopoly is more complicated than pricing and output determinations in other industries. The primary reason for the complication is the:

• A) fewness of firms.
• B) brand loyalty of consumers.
• C) powerful effect of advertising.
• D) variability of concentration ratios.
• E) mutual interdependence of firms.

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