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:

Distinctive Features

Characteristics that set an object, concept, or entity apart from others, making it easily identifiable and unique.

Team-Based Decision Making

A collaborative approach to decision-making where the members of a team collectively make decisions, tapping into diverse perspectives and expertise.

Design Engineers

Professionals who use creativity and technical knowledge to develop new products or improve existing ones.

Constraints

are limitations or restrictions that affect the performance and outcomes of processes, projects, or behaviors.