Which of the Following Is a Characteristic of the Oligopoly

question 40

Multiple Choice

Which of the following is a characteristic of the oligopoly model?

• A)The oligopoly market consists of only a small number of sellers.
• B)The sellers in an oligopoly market are price takers.
• C)The output decisions taken by sellers are uniform and steady.
• D)There are barriers to the exit of firms in an oligopoly market.

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Definitions:

Straight-line Method

A method of allocating the cost of a tangible asset over its useful life in equal annual amounts.

Salvage Value

The projected remaining worth of an asset upon reaching the end of its serviceable duration.

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life, reflecting its decrease in value over time.

Straight-line Depreciation

A method of allocating the cost of a tangible asset over its useful life evenly.