A Firm in an Oligopoly Is Similar to a Monopoly

question 256

Multiple Choice

A firm in an oligopoly is similar to a monopoly in that

• A)both firms do not face competition from others.
• B)both firms could have significant market power and control over price.
• C)both firms face very inelastic demand for their products.
• D)both firms do not need to advertise.

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