To Determine If a Market Is an Oligopoly,we Need to Determine

question 195

Multiple Choice

To determine if a market is an oligopoly,we need to determine if

• A) the market's HHI is less than 900.
• B) there are many firms in the market.
• C) the firms are so few that they recognize their mutual interdependencies.
• D) the firms make identical or differentiated products.
• E) cartels are legal in their market.

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Definitions:

Internal Causes

Factors or reasons originating within an individual or entity that lead to a specific outcome or behavior.

External Factors

Elements outside an organization or individual's control that can impact their performance, decision-making, and strategies.

Internal Personal Factors

The psychological or physiological aspects within an individual that influence their behavior, choices, and interactions.

Positive Reinforcement

Positive reinforcement strengthens a behavior by making a desirable consequence contingent on its occurrence.