An Oligopolist's Demand Curve Is

question 51

Multiple Choice

An oligopolist's demand curve is

• A)identical to that of a perfectly competitive firm.
• B)identical to that of a monopolistically competitive firm.
• C)vertical on a price-quantity diagram.
• D)unknown because a response of firms to price changes by rivals is uncertain.

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Definitions:

Weighted Average

A method used to calculate the average cost of inventory that takes into account the varying costs of different batches of goods by weighting each batch by its proportion in the total inventory.