As the Number of Firms in an Oligopoly Increases, the

question 248

Multiple Choice

As the number of firms in an oligopoly increases, the

• A)price approaches marginal cost, and the quantity approaches the socially efficient level.
• B)price and quantity approach the monopoly levels.
• C)price effect exceeds the output effect.
• D)individual firms' profits increase.

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Definitions:

Query Language

A computer language used to make queries or requests for data within databases and information systems.

SQL

Stands for Structured Query Language, a standardized programming language used for managing and manipulating relational databases.

Cardinality

In database design, it refers to the uniqueness of data values contained in a particular column (attribute) of a database table.

Entity

A thing with distinct and independent existence, often used to refer to businesses, organizations, or complex individuals.