Which of the Following Must Be True in an Oligopoly

question 42

Multiple Choice

Which of the following must be true in an oligopoly?

• A)The firms produce a differentiated product.
• B)There is one dominant firm in the market.
• C)The firms are strategically interacting.
• D)The market is international in scope.
• E)There are no significant barriers to entry.

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Definitions:

Genetic Expression

The process by which information from a gene is used to synthesize functional gene products, such as proteins, which can influence an organism's traits.

Transcription

The complex chain of cellular processes that involves translating the code specified by a gene into the production of a protein. This series of biochemical events ultimately accounts for genetic expression or influence.

Translation

One step in a cell’s production of a protein, in which the cell “reads” the code represented in a strand of mRNA and creates a protoprotein based on that code.

Prenatal Development

The process of growth and development within the womb from conception until birth.