As the Number of Firms in an Oligopoly Becomes Very

question 114

True/False

As the number of firms in an oligopoly becomes very large, the price effect disappears.

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Definitions:

Median Score

The middle value in a set of data, where half the scores are higher and half are lower.

Consistent

In statistics, refers to an estimator that, as the sample size grows to infinity, converges in probability to the true parameter being estimated.

Salaries

Refers to the regular payments made to employees for their work or services, typically expressed in terms of annual amounts or hourly rates.

Provinces

Administrative divisions within a country, with specific governmental responsibilities distinct from the central government; often used in reference to Canada's political structure.