What,essentially,is an Oligopoly If It Has a Large Number of Firms

question 40

Multiple Choice

What,essentially,is an oligopoly if it has a large number of firms

• A)a large monopolist
• B)a large monopolistically competitive market
• C)a group of competitive firms
• D)a group of monopolistic firms

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Definitions:

Discount Rate

The interest rate charged by central banks on loans they give to commercial banks and other financial institutions.

Fed

The Federal Reserve System, which is the central banking system of the United States, responsible for monetary policy.

Loans

Money borrowed that is expected to be paid back with interest.

Open Market

An economic system with few barriers to free market activity where prices for goods and services are determined by supply and demand.