An Oligopolistic Industry Is Characterized by All of the Following

question 89

Multiple Choice

An oligopolistic industry is characterized by all of the following except

• A)existence of entry barriers.
• B)the possibility of reaping long-run economic profits.
• C)firms pursuing aggressive business strategies, independent of rivals' strategies.
• D)production of standardized or differentiated products.

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Definitions:

Net Taxes

The difference between total taxes levied by the government and the total transfer payments and subsidies it pays out.

Disposable Income

The amount of money an individual or household has to spend or save after income taxes have been deducted.

Naval Research Laboratory

The United States Navy's corporate laboratory that conducts a broad program of scientific research, applied research, technological development, and prototyping.

Environmental Protection Agency

A U.S. federal agency responsible for creating and enforcing regulations that protect the environment and public health.