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:

School Readiness

The phase at which a child is prepared, in terms of development, behavior, and academic knowledge, to enter and succeed in a school environment.

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The participation of mothers in the workforce, which can have various impacts on family dynamics, child development, and socioeconomic status.

Pygmalion Effect

The phenomenon where higher expectations lead to an increase in performance; a form of self-fulfilling prophecy.

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