All Else Equal,in Which Oligopolistic Market Below Would One Expect

question 57

Multiple Choice

All else equal,in which oligopolistic market below would one expect the markup to be the smallest?

• A) An oligopolistic market with inelastic demand and a very few firms
• B) An oligopolistic market with elastic demand and a very few firms
• C) An oligopolistic market with inelastic demand and a greater number of firms
• D) An oligopolistic market with elastic demand and a greater number of firms

---

Definitions:

Consequentialist Ethics

A moral philosophy where the rightness or wrongness of actions is based solely on the outcomes or consequences they produce.

Deceptive Arguments

Arguments or statements intentionally designed to mislead or manipulate others.

Fewer Concessions

Making minimal compromises or yielding less in negotiations to achieve one's own objectives.

Social Contract

A theoretical agreement within a society in which individuals consent to surrender some freedoms in exchange for protection of essential rights and social order.