A Tight Oligopoly Refers to _____

question 21

Multiple Choice

A tight oligopoly refers to _____

• A)a single firm that controls the entire market and can block entry.
• B)an industry in which the top four firms supply more than 60 percent of the market, have stable market shares, and cooperate with each other.
• C)an industry in which the top four firms supply more than 60 percent of the market, have unstable market shares, and do not cooperate with each other.
• D)an industry in which a single firm has over half the market share and no close rival.
• E)an industry in which a single firm supplies over one-third of the entire market, the market share is stable, and the firm cooperates with other firms in the industry.

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Definitions:

Production Methods

Techniques, tools, and processes used in the creation of goods or services, aiming at improving efficiency, quality, and productivity in manufacturing or service delivery.

Work Organization

The way in which work is structured, managed, and executed within a company or institution, affecting productivity, efficiency, and employee satisfaction.

Job Control Unionism

A labor movement strategy that focuses on managing aspects of employment, such as hiring practices, work assignments, and promotions, through union influence.

Scientific Management

A theory of management that analyzes and synthesizes workflows to improve economic efficiency, especially labor productivity, developed by Frederick Taylor.