All of the Following Are Characteristics of an Oligopolistic Market

question 59

Multiple Choice

All of the following are characteristics of an oligopolistic market EXCEPT

• A)firms must consider the actions of their rivals.
• B)cartels eventually form to keep prices high.
• C)firms have the ability to influence prices.
• D)firms earn lower profits than a monopoly.

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Definitions:

Paraphrasing

The process of rewording or rephrasing text while maintaining the original meaning, often used to simplify or clarify the original text.

Indirect Quotation

A paraphrase or summary of someone else's words without directly quoting them, often introduced by a phrase like "he said that..." or "according to..."

Quotation Marks

Punctuation marks used in pairs to indicate the beginning and end of a quotation or a direct speech within a text.

Plagiarism

The act of using someone else's work or ideas without giving proper credit, thereby presenting it as one's own.