A Characteristic of an Oligopoly Is

question 144

Multiple Choice

A characteristic of an oligopoly is:

• A) mutual interdependence in pricing decisions.
• B) independent pricing decisions.
• C) lack of control over prices.
• D) none of the above.

---

Definitions:

GPA

Grade Point Average, a standard way of measuring academic achievement in the U.S., usually on a scale from 0.0 to 4.0.

Variable Inputs

Inputs whose quantities can be changed in the short term to adjust production levels, such as labor and raw materials.

Fixed Input

An input whose quantity does not change with the level of output in the short run.