Which of the Following Is Characteristic of Oligopoly Firms,but Not

question 116

Multiple Choice

Which of the following is characteristic of oligopoly firms,but not of monopolistically competitive firms?

• A) firms seek to maximize profits
• B) firms face downward-sloping demand curves
• C) the pricing behavior of one firm has a significant effect on the sales of other firms
• D) firms have at least some ability to influence price

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Definitions:

Maslow

American psychologist who developed the hierarchy of needs, a theory in psychology that prioritizes fundamental human wants and desires crucial for individual growth.

Self-actualization

The realization or fulfilment of one's talents and potentialities, considered as a drive or need present in everyone.

Maslow

An American psychologist known for creating Maslow's hierarchy of needs, a theory in psychology that prioritizes human needs into a five-tier model of motivation.

Esteem Needs

In Maslow's hierarchy of needs, esteem needs are the fourth level, involving the human desire for respect, self-esteem, and recognition from others.