An Oligopoly Is a Market in Which

question 627

Multiple Choice

An oligopoly is a market in which

• A)there are only a few sellers, each offering a product similar or identical to the products offered by other firms in the market.
• B)firms are price takers.
• C)the actions of one seller in the market have no impact on the other sellers' profits.
• D)there are many price-taking firms, each offering a product similar or identical to the products offered by other firms in the market.

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Definitions:

PhOH

The abbreviation for phenol, representing a hydroxyl group (-OH) bonded to a benzene ring.

Anionic Polymerization

A type of polymerization that involves the polymer growth through an anion active center, usually initiated by a strong base.

BuLi

Butyllithium, a strong base and nucleophile used in organic synthesis to deprotonate compounds or to initiate polymerization.

PhOH

Phenol, an aromatic compound with the formula C6H5OH, known for its antiseptic properties.