An Oligopoly Market Structure Is Characterized by Firms Closely Watching

question 169

True/False

An oligopoly market structure is characterized by firms closely watching their rivals' pricing policies.

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Definitions:

Capital

The financial assets or resources that businesses and individuals use to invest, produce goods and services, including buildings, machinery, and equipment.

Output

The quantity of goods or services produced in a given period by a firm, industry, or country.

Unit of Labor

A measurement in economics referring to one hour of work or its equivalent output by a worker.

Unit of Capital

The smallest divisible amount of capital that can be invested in or allocated to a project or investment.