An Oligopoly

question 57

Multiple Choice

An oligopoly

• A)requires government licensing.
• B)has relatively few firms, but they are still price takers.
• C)always collude to keep prices high.
• D)has barriers to entry.

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Definitions:

Representative Sample

A segment of a population that accurately mirrors the characteristics of the entire group.

Rubber Boots

Waterproof boots generally made from rubber or a water-resistant material to keep feet dry.

Operational Definition

A clear, detailed description of how an experimental variable is measured or manipulated within research.

Hypothesis

A testable prediction about the conditions under which a particular behavior or mental process may occur.