Which of the Following Is NOT True of an Oligopoly

question 134

Multiple Choice

Which of the following is NOT true of an oligopoly?

• A) They advertise their product.
• B) The firms recognize their interdependence.
• C) A few firm account for a large portion of the total output.
• D) Firms are price takers.

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Definitions:

Principal

The person (client) for whom a service is performed. Amount that is borrowed using credit.

Second Mortgage

A type of subordinate mortgage made while an original mortgage is still in effect, securing the collateral by the same property.

Amortized Loan

A loan with scheduled periodic payments that cover both interest and principal over a specific time period.

Monthly Mortgage Payment

The amount that is paid each month by a borrower to a lender for a home loan, which often includes principal, interest, taxes, and insurance.