If a Firm in an Oligopoly Expands Its Market Share

question 134

Multiple Choice

If a firm in an oligopoly expands its market share at prevailing prices,its competitors

• A)Lose market share.
• B)Increase their market share.
• C)Ignore the expansion.
• D)Increase their profits.

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Definitions:

New Republic

Refers to a period or state entity formed after breaking away from a previous form of government, often associated with revolutions or major political changes.

Constitutional Convention

The meeting held in 1787 in Philadelphia where the Constitution of the United States was drafted.

Rhode Island

The smallest state in the United States, known for its coastal scenery and as a haven for religious freedom during its founding.

Representative

An individual who is elected to serve and act on behalf of a larger group of people, particularly in legislative or governmental roles.