As the Number of Sellers in an Oligopoly Becomes Very

question 392

Multiple Choice

As the number of sellers in an oligopoly becomes very large,

• A)the quantity of output approaches the socially efficient quantity.
• B)the price approaches marginal cost.
• C)the price effect is diminished.
• D)All of the above are correct.

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Definitions:

Simple Lipids

Fats and waxes composed mostly of triglycerides, which are esters formed from glycerol and three fatty acids.

Unsaturated Triglyceride

A type of triglyceride (a fat or oil) with at least one double bond in the fatty acid chains, making it less dense and typically liquid at room temperature.

Lauric Acid

A saturated fatty acid with a 12-carbon chain commonly found in coconut oil and palm kernel oil.

Triglyceride

A type of fat (or lipid) that is found in the blood, composed of one molecule of glycerol bonded to three fatty acids.