In Contrast to Both Perfect Competition and Monopolistic Competition,an Oligopoly

question 91

Multiple Choice

In contrast to both perfect competition and monopolistic competition,an oligopoly market structure is characterized by:

• A)price discrimination.
• B)a perfectly inelastic demand curve.
• C)the presence of infinite number of firms.
• D)only differentiated products.
• E)difficulty in the entry of new firms.

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Definitions:

Mode

The value that appears most frequently in a given set of data, representing the most common outcome within that data set.

Convergent Validity

The degree to which two measures of constructs that theoretically should be related, are in fact related.

Intercoder Reliability

The degree of agreement among independent observers or coders who rate, classify, or categorize the same phenomenon.

Test-Retest Reliability

The consistency of a test's results over time when the same participants take the same test again under similar conditions.