Which of the Following Statements About Oligopolistic Markets Is Correct

question 36

Multiple Choice

Which of the following statements about oligopolistic markets is correct?

• A) Firms in an oligopoly face an upward-sloping demand curve for their products.
• B) There are a large number of small firms in an oligopoly.
• C) An oligopolist is a price-setter in the output market.
• D) The degree of market power enjoyed by firms in an oligopoly is very low.

---

Definitions:

Freedom of Information Act

A law that allows for the full or partial disclosure of previously unreleased information and documents controlled by the government.

Classified Documents

Official documents that have been designated as confidential, secret, or top secret, and require authorization for access due to their sensitive nature.

Federal Government

A system of government where sovereignty is constitutionally divided between a central governing authority and subnational entities, such as states or provinces.

Privatization

The process of transferring ownership of a business, enterprise, agency, public service, or public property from the government to private individuals or organizations.