An Oligopoly Differs from a Monopoly in That an Oligopolist

question 299

Multiple Choice

An oligopoly differs from a monopoly in that an oligopolist

• A) produces where price is greater than marginal revenue.
• B) maximizes profits where marginal revenue equals marginal cost.
• C) has significant control over its price.
• D) must consider the behavior of its rivals when it makes decisions.

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Definitions:

Business Organizations

Entities set up to carry out commercial enterprises, including corporations, partnerships, and sole proprietorships.

Ethical Issue

An identifiable problem, situation, or opportunity that requires a person to choose from among several actions that may be evaluated as right or wrong, ethical or unethical.