In Oligopoly,a Firm Must Realize That

question 214

Multiple Choice

In oligopoly,a firm must realize that:

• A)what it does has no effect on the other firms in the industry.
• B)its behavior will be ignored by other firms in the industry.
• C)another major firm may dominate choices in the industry,and it will have to behave accordingly.
• D)collusion was made legal in 2004.

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Definitions:

Variability

The extent to which data points in a statistical distribution or data set differ from each other and from the overall mean of the set.

Index

A statistical measure or indicator that represents the variation or level of a specific phenomenon, often used in economics and finance.

Correlation Coefficient

A statistical measure that calculates the degree to which two variables move with each other, ranging from -1 (perfect negative correlation) to +1 (perfect positive correlation).

Value

The importance, worth, or usefulness of something, often related to economic, moral, or personal significance.