Which of the Following Is Characteristic of Oligopoly, but NOT

question 21

Multiple Choice

Which of the following is characteristic of oligopoly, but NOT of monopolistic competition?

• A) Firms are profit- maximisers.
• B) There is more than one firm in the industry.
• C) Each firm faces a downward- sloping demand curve.
• D) The choices made by one firm have a significant effect on other firms.

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Definitions:

Generation Gap

A divide between adolescence and other periods of life that supposedly reflects profound differences in behavior, values, attitudes, lifestyle choices, and experiences.

Autonomy

The development and expression of independence.

Communication Breakdown

The failure to accurately convey or understand messages between communicators, leading to confusion or conflict.

Maturity

The state of being fully developed in body or mind, often associated with adulthood and the ability to respond to situations in an appropriate manner.