The Analysis of Oligopolistic Behavior Is Difficult Because

question 169

Multiple Choice

The analysis of oligopolistic behavior is difficult because

• A)there are few real-world examples of oligopolies for economists to study.
• B)oligopolists make decisions independently of each other.
• C)firms in oligopolistic industries react to each other's behavior in many ways.
• D)economists have paid little attention to the topic in recent years and so have not yet applied to it the techniques of modern economic theory.

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Definitions:

Consensus

General agreement among a group or the collective opinion, judgment, or position of a majority of members within a specific context.

Frequency

In the context of statistics and research, frequency refers to the number of times an event or value occurs within a given dataset or period.

Stereotype

is a widely held but fixed and oversimplified image or idea of a particular type of person or thing.

Primacy Effect

The tendency to remember information that is presented first better than information that is presented later.