To Determine If a Market Is an Oligopoly,we Need to Determine

question 195

Multiple Choice

To determine if a market is an oligopoly,we need to determine if

• A) the market's HHI is less than 900.
• B) there are many firms in the market.
• C) the firms are so few that they recognize their mutual interdependencies.
• D) the firms make identical or differentiated products.
• E) cartels are legal in their market.

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Definitions:

Acquired Material

Items or substances that are obtained or collected for use, often referring to resources gathered for a specific project or purpose.

Liabilities

Anything to which a person is liable, responsible, legally bound; debts or accounts payable (A/P) owed by the business.

Accounts Payable

The amount of money owed by a company to its creditors or suppliers for goods and services received but not yet paid for.

Invoice Description

A detailed statement showing goods sold or services provided, their prices, and the total amount to be paid.