question archive A characteristic found only in oligopolies is: a
A characteristic found only in oligopolies is: a
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A characteristic found only in oligopolies is:
a. interdependence of firms.
b. independence of firms.
c. break-even level of profits.
d. products that are slightly different.
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A characteristic found only in oligopolies is:
| a. interdependence of firms. | Yes, because there are only a few firms and they are therefore able to observe each other's behavior and prices. |
|---|---|
| b. independence of firms. | No, firms in pure competition, monopoly, and monopolistic competition act independently. |
| c. break-even level of profits | No, profits above the break-even level are possible in all but pure competition. |
| d. products that are slightly different. | No, differentiated products can occur in oligopoly and monopolistic competition. |
