Firms Operating in an Oligopoly

question 63

Multiple Choice

Firms operating in an oligopoly

• A) always compete on price.
• B) always compete on price, product quality and marketing.
• C) can make the same profit as a monopoly but there is no assurance that they will do so.
• D) usually achieve the competitive outcome.
• E) always make the same profit as a monopoly.

Comprehend the role and legality of authorization cards in the unionization process.

Identify the conditions under which employers can legally recognize unions.

Explain the legal constraints on employer and union actions during unionization efforts.

Appreciate the factors that influence employee attitudes towards unions and unionization.

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Definitions:

Epidermis

Outermost tissue layer. In animals, the epithelial layer of skin. In plants, the dermal tissue.

Mesoderm

Middle tissue layer of a three-layered animal embryo.

Ectoderm

Outermost tissue layer of an animal embryo.

Implantation

The process by which a fertilized egg attaches itself to the lining of the uterus, marking the beginning of pregnancy.