Why Do Oligopolists Tend to Change Their Price Less Frequently

question 82

Multiple Choice

Why do oligopolists tend to change their price less frequently than perfect competitors?

• A) because their demand curves are inelastic
• B) because they often are subject to government price controls
• C) because they are uncertain as to how their competitors will react
• D) because the demand curve for their product is not as volatile

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Definitions:

Human Rights Legislation

Laws and regulations designed to protect individuals from discrimination and ensure equal treatment in various aspects of life, including employment.

Human Capital

The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or the community.

Managing Diversity

The practice of acknowledging, understanding, accepting, and valuing differences among people with respect to age, class, ethnicity, gender, physical and mental ability, race, sexual orientation, spiritual practice, and public assistance status in the workplace.

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