In the Long Run, an Oligopoly

question 113

Multiple Choice

In the long run, an oligopoly

• A)will produce less than a monopoly.
• B)may be able to earn positive economic profits.
• C)will always produce in the range of decreasing returns to scale.
• D)will produce on the portion of the demand curve where demand is price-inelastic.

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Definitions:

Number Of Options

The total count of possible choices available in a given decision-making scenario.

Satisfaction

A feeling of fulfillment or contentment with one's achievements, possessions, or state of being.

Quality Of Decisions

Refers to the effectiveness and outcome satisfaction of decisions based on criteria such as logic, appropriateness, and ethical considerations.

Hierarchical Organization

A system or organization structured in levels of importance or rank, where each level except the topmost is subordinate to a higher level.