If Oligopolists Engaged in Some Sort of Collusion,industry Output Would

question 139

Multiple Choice

If oligopolists engaged in some sort of collusion,industry output would be _____ and price would be _____ than under perfect competition.

• A)smaller; lower
• B)smaller; higher
• C)smaller; no different
• D)greater; lower
• E)greater; higher

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Definitions:

Operant Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment.

Communication

The act of conveying meanings from one entity or group to another through the use of mutually understood signs, symbols, and semiotic rules.

Breeding Territory

An area defended by an animal or group of animals against others of the same species for the purposes of mating and rearing offspring.

Male Elks

Adult male specimens of the species Cervus canadensis, known for their large antlers, which they shed and regrow each year.