Because Each Oligopolist Cares About Its Own Profit Rather Than

question 19

Multiple Choice

Because each oligopolist cares about its own profit rather than the collective profit of all the oligopolists together,

• A)they are unable to maintain the same degree of monopoly power enjoyed by a monopolist.
• B)each firm's profit always ends up being zero.
• C)society is worse off as a result.
• D)Both a and c are correct.

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Definitions:

Indefinite Hiring

An employment arrangement without a predetermined end date, typically at will and subject to termination by either party with notice.

Unjust Dismissal

The unwarranted termination of an employee in violation of legal or contractual obligations.

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing and signed by the party to be charged.

Negligently Harms

Inflicting injury or damage on someone due to carelessness or failure to take reasonable precautions.