As a Group, Oligopolists Would Always Be Better Off If

question 19

Multiple Choice

As a group, oligopolists would always be better off if they would act collectively

• A) as if they were each seeking to maximise their own individual profits.
• B) in a manner that would prohibit collusive agreements.
• C) as a single monopolist.
• D) as a single perfectly competitive firm.

---

Definitions:

Knowledge Gap

The difference between what is known and what needs to be known to effectively understand or perform an activity.

Pricing Strategies

Various approaches businesses use to set prices for their products or services to maximize profitability and meet market demand.

Perishable

Describes products or services that have a limited life span or expiry date, after which they are no longer usable or valuable.

Empowerment Gap

The disparity between groups in their access to resources and opportunities that allow for empowerment and decision-making.