In General, Oligopolies Are Considered to Misallocate Resources Because

question 43

Multiple Choice

In general, oligopolies are considered to misallocate resources because:

• A) competition is often fierce in oligopolies.
• B) an oligopolist often earns economic profits.
• C) P < MC in oligopoly.
• D) P = MC in oligopoly.

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Definitions:

Caller on Hold

Refers to a caller who is temporarily suspended on the telephone line, awaiting assistance or connection to the desired party.

Practice Name

The name under which a professional practice, such as medical, legal, or dental, operates or is known.

Wait Duration

The length of time a patient or individual has to wait before receiving services, attention, or results in various settings.

Long or Complicated Call

A phone conversation characterized by its extended duration or the complexity of the issues discussed.