An Example of an Oligopoly Market Would Be One in Which

question 50

Multiple Choice

An example of an oligopoly market would be one in which ___ firm(s) sell(s) ____% of the output.

• A)1;95
• B)3;10
• C)4;80
• D)250;35
• E)1,000;99

---

Definitions:

Price Rises

An increase in the cost of goods or services, often due to factors like inflation, supply and demand imbalances, or production costs.

Income Effects

Changes in consumers' purchasing patterns resulting from a change in their income, influencing how they allocate their spending across different goods and services.

Substitution Effects

The change in the consumption pattern of goods due to a change in their relative price, leading consumers to substitute one good for another.

Labor Market

The input/factor market in which households supply work for wages to firms that demand labor.