1. Which of the following is not part of an oligopolist's business strategy?

a		deciding on how to manage relations with suppliers
b		choosing what new technologies to adopt
c		selecting which new markets to enter
d		independently setting a product's price without consideration of its rivals' pricing policies

2. Oligopoly differs from perfect competition and monopolistic competition in that

a		barriers to entry are lower in oligopoly industries than they are in perfectly competitive and monopolistically competitive industries.
b		demand and marginal revenue curves are more useful for analyzing oligopoly than they are for analyzing perfect competition and monopolistic competition.
c		because oligopoly firms often react when other firms in their industry change their prices, it is difficult to know what the oligopolist's demand curve looks like.
d		the concentration ratios of oligopoly industries are lower than they are for perfectly competitive and monopolistically competitive firms.

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1 D independently setting a products price without c... View the full answer