As a Group, Oligopolists Would Always Be Better Off If

question 368

Multiple Choice

As a group, oligopolists would always be better off if they would act collectively

• A)as if they were each seeking to maximize their own individual profits.
• B)in a manner that would prohibit collusive agreements.
• C)as a single monopolist.
• D)as a single perfectly competitive firm.

---

Definitions:

Net Income

The total profit of a company after all expenses, including taxes and operating costs, have been deducted from total revenues.

Gain Contingencies

Potential increases in assets or decreases in liabilities that may occur as a result of a future event, and which are acknowledged in financial statements if they are probable and can be reasonably estimated.

Footnote Disclosures

Explanatory notes added to the financial statements to provide more detailed information about certain figures.

Subsequent Events

Events occurring after the balance sheet date but before the financial statements are issued, which could materially affect the financial statements if not accounted for.