An Oligopolist Differs from a Perfect Competitor in That

question 62

Multiple Choice

An oligopolist differs from a perfect competitor in that

• A)there is cutthroat competition in perfect competition but little competition in oligopoly because firms have significant market power.
• B)firms in an oligopoly do not produce homogeneous products while firms in perfect competition do.
• C)the market demand curve for a perfectly competitive industry is perfectly elastic but it is downward-sloping in an oligopolistic industry.
• D)there are no entry barriers in perfect competition but there are entry barriers in oligopoly.

Understand the roles and perspectives of department managers and human resources in the recruiting process.

Recognize the importance and challenges of reference checks and background investigations.

Know the value and limitations of internal versus external recruitment strategies.

Identify the legal implications and risks in sharing employee information and in recruiting practices.