If an Oligopolist Is Going to Change Its Price or Output,its

question 143

Multiple Choice

If an oligopolist is going to change its price or output,its initial concern is

• A)The response of its competitors.
• B)A change in its cost structure.
• C)The concentration ratio.
• D)The response of the Federal Trade Commission.

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Definitions:

Time Lag

The delay between a cause or action and its effect or outcome.

Competitive Benchmarking

A process where a company measures its performance or processes against those of its competitors to identify improvements or strategies.

Industry Benchmarking

A process of measuring a company's performance, operations, or processes against the best practices from other companies within the same industry.

Process Benchmarking

The practice of comparing business processes and performance metrics to industry bests or best practices from other companies.