Oligopoly Is a Situation When There

question 156

Multiple Choice

Oligopoly is a situation when there

• A) is one firm in the industry that is large relative to the size of the economy.
• B) are a few large firms in the industry.
• C) are too many firms in the industry and there is excess capacity.
• D) is one large firm and many smaller firms forming a competitive fringe.

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Definitions:

Simple Interest

Interest calculated on the principal portion of a loan or deposit, without compounding.

Interest

Payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum, at a particular rate.

Housing Prices

The amount of money required to purchase residential properties, which fluctuates based on location, demand, and other factors.

Dream House

Idealized or perfect residential property that one aspires to live in, often customized or having specific desirable features.