"Because Firms in an Oligopoly Are So Large, They Do

question 179

Essay

"Because firms in an oligopoly are so large, they do not need to consider each other's actions." Is the previous statement correct or incorrect? Explain your answer.

---

Definitions:

Nationalization

The process by which a government takes ownership and control of private assets or industries, often to ensure public access or control.

Domestic Industries

Refers to the sectors and companies that produce goods and services within a country's borders, contributing to its overall economy.

Technological Advances

Innovations and improvements in technology that enhance productivity, efficiency, or quality.

Capital-Using

Pertaining to processes or technologies that involve an increase in the amount of capital used per unit of output.