In Oligopoly, a Firm Must Realize

question 189

Multiple Choice

In oligopoly, a firm must realize:

• A) that what it does affects the other firms in the industry.
• B) that it must pursue policies always remembering there will be a reaction to those policies by other firms in the industry.
• C) that it is in an industry in which one major firm may dominate and the firm will need to judge its actions accordingly.
• D) all of the above.

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Definitions:

Self-efficacy

An individual's belief in their capacity to execute behaviors necessary to produce specific performance attainments.

Personal Goals

Individual objectives that a person aims to achieve, which can be short-term or long-term and vary in nature.

Achievable Goals

Objectives that can realistically be accomplished within a given timeframe and with available resources.

McGregor

Douglas McGregor, an American social psychologist who proposed the Theory X and Theory Y concepts of employee motivation and management.