Oligopoly Is

question 50

Multiple Choice

Oligopoly is

• A) always efficient.
• B) efficient only if the firms cooperate.
• C) efficient only if the firms play non-repeated games.
• D) generally not efficient.
• E) efficient only if the firms innovate.

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Definitions:

Mass Media

Channels of communication such as television, newspapers, radio, and the internet that reach a large audience, influencing public opinion and disseminating information.

Public Domain

Information, resources, and creative works that are not owned by individuals or corporations and are available for public use without permission.

Television

An electronic device that receives broadcast signals and displays them as moving images with sound, serving as a primary source of entertainment and information.

Peer Group

Is composed of people who are about the same age and of similar status as the individual. The peer group acts as an agent of socialization.