An Oligopoly Is an Industry Composed Of

question 39

Multiple Choice

An oligopoly is an industry composed of:

• A) a large number of firms that produce close substitutes.
• B) a large number of firms that produce a no close substitutes.
• C) a few producers or sellers of a good that recognize their interdependence.
• D) a single seller of a product that has no close substitutes.

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Definitions:

Depression

A common but serious mood disorder that affects how a person feels, thinks, and handles daily activities.

Preparedness

The concept in psychology that suggests organisms are innately predisposed to form certain associations or learn particular kinds of behaviors.

Stimuli

External or internal events or occurrences that elicite a response from the sensory system of an organism.

Phobia

An extreme or irrational fear or aversion to something.