Which of the Following Examples Illustrates an Oligopoly Market

question 155

Multiple Choice

Which of the following examples illustrates an oligopoly market?

• A)A farmers' market with many individuals selling sweet corn and tomatoes
• B)A city whose electrical service is provided by one electric co-operative
• C)A city with two firms who are licensed to sell school uniforms for the local schools
• D)A city with many independently owned hair styling salons

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Definitions:

External Causes

Involves factors or circumstances outside an individual or system that impact outcomes or situations.

Internal Causes

Factors within a person, such as beliefs, desires, or personality traits, that explain their behaviors and decisions.

Law of Contingent Reinforcement

The Law of Contingent Reinforcement posits that the effectiveness of reinforcement (such as rewards or punishments) is dependent on its being administered contingent upon the occurrence of the behavior it is meant to encourage or discourage.

Desirable Behavior

Actions or conduct that are viewed positively and encouraged within a particular social or organizational culture.