As the Number of Firms in an Oligopoly Increases

question 475

Multiple Choice

As the number of firms in an oligopoly increases,

• A)each seller becomes more concerned about its impact on the market price.
• B)the output effect decreases.
• C)the total quantity of output produced by firms in the market gets closer to the socially efficient quantity.
• D)the oligopoly has more market power and firms earn a greater profit.

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Definitions:

Assumptive Close

A sales technique where the seller assumes that the buyer has already decided to purchase and wraps up the sale accordingly.

Sunglasses

Eyewear designed to protect the eyes from harmful ultraviolet rays and glare, often also serving as a fashion accessory.

Compliment Close

A sales technique where the salesperson compliments the prospect to create a positive atmosphere and encourage a sale.

Summary-Of-Benefits

A concise outline highlighting the advantages or positive aspects of a product or service, intended to persuade potential buyers.