All of the Following Are Characteristics of an Oligopolistic Market

question 59

Multiple Choice

All of the following are characteristics of an oligopolistic market EXCEPT

• A)firms must consider the actions of their rivals.
• B)cartels eventually form to keep prices high.
• C)firms have the ability to influence prices.
• D)firms earn lower profits than a monopoly.

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Definitions:

Commercial

Relating to or engaged in commerce; characterized by the intent to profit from the buying, selling, or exchanging of goods and services.

Own Identity

The distinct characteristics, values, and beliefs that define an individual, group, or organization and differentiate it from others.

Nonprofit Organizations

Entities that operate for charitable, educational, or social purposes rather than for profit, reinvesting surplus revenues in their mission.

Organizational Units

Smaller, specialized sections within a larger organization, each with specific roles and responsibilities.