Which of the Following Is a Unique Characteristic of the Oligopolistic

question 125

Multiple Choice

Which of the following is a unique characteristic of the oligopolistic market structure?

• A) low barriers to entry
• B) a large number of firms producing highly differentiated products that are complements to each other
• C) product differentiation among the products produced by individual firms
• D) mutual interdependence among firms in demand, and thus, in price decisions

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Definitions:

Instrumental Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment; also known as operant conditioning.

Respondent Conditioning

A form of learning in which a stimulus becomes associated with a consequence, also known as classical conditioning.

Classical Conditioning

A learning process that occurs when two stimuli are repeatedly paired; a response that is at first elicited by the second stimulus is eventually elicited by the first stimulus alone.

Memory

Ability to recall or recognize previous experience.