As a Group, Oligopolists Would Always Earn the Highest Profit

question 57

Multiple Choice

As a group, oligopolists would always earn the highest profit if they would

• A) produce the competitive quantity of output.
• B) produce more than the competitive quantity of output.
• C) charge the same price that a monopolist would charge if the market were a monopoly.
• D) operate according to their own individual self-interests.

---

Definitions:

Amendment

A formal change or addition proposed or made to a document, statute, or legal contract.

Veto

The power to unilaterally stop an official action, especially the enactment of legislation.

Enact

To make into law by official decree.

Congress

A national legislative body, primarily responsible for making laws.