The Number of Firms in an Oligopoly Must Be

question 103

Multiple Choice

The number of firms in an oligopoly must be

• A)Four.
• B)Large enough so that firms cannot coordinate.
• C)Small enough so that one firm's decisions have a significant impact on the decisions of the other firms in the industry.
• D)Small enough so that revenues are large enough to support advertising expenditures.

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Definitions:

Voting Rights Act

The Voting Rights Act is landmark U.S. legislation passed in 1965 aimed at overcoming legal barriers at the state and local levels that prevented African Americans from exercising their right to vote.

Citizenship

The status of being a legally recognized subject or national of a state, with associated rights and duties.

Watts Riots

A series of violent confrontations between the police and residents of the Watts neighborhood of Los Angeles in August 1965, highlighting racial tensions and economic disparities.

Los Angeles

A major city in California, United States, known for its entertainment industry, diverse culture, and as a leading hub of commerce and technology.