An Oligopoly

question 349

Multiple Choice

An oligopoly

• A)has a concentration ratio of less than 50 percent.
• B)is a price taker.
• C)is a type of imperfectly competitive market.
• D)has many firms rather than just one firm or a few firms.

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Definitions:

Conservation Biology

A multidisciplinary scientific field dedicated to understanding and preserving Earth's biodiversity, focusing on protecting species, their habitats, and ecosystems.

Biodiversity

The variety of life in the world or in a particular habitat or ecosystem, including species diversity, genetic diversity, and ecosystem diversity.

Direct Values

The tangible benefits that ecosystems provide to humans, such as food, water, and raw materials.

Indirect Values

Benefits provided by ecosystems that support or enrich human life and economic activity but do not have a direct market value.