Which of the Following Is True of an Oligopoly Market

question 34

Multiple Choice

Which of the following is true of an oligopoly market?

• A)Firms earn zero economic profits in the long run.
• B)There are a large number of sellers in the market.
• C)The presence of economies of scale discourages new firms from entering the market.
• D)Firms choose price and output independently from the decisions made by competitors.
• E)There are substantial diseconomies of scale in production.

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Definitions:

Systematic observation

A method of research involving careful and consistent observation of phenomena according to a plan or system.

Child-rearing

The process of supporting and promoting the emotional, physical, social, and intellectual development of a child from infancy to adulthood.

Systematic observation

A method of data collection where researchers observe and systematically record behavior according to a set protocol or code.

Naturalistic observation

A study technique where participants are examined in their usual surroundings with no intervention by the observer.