1. Which of the following is not part of an

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.


Members

  • Access to 2 Million+ Textbook solutions
  • Ask any question from 24/7 available
    Tutors
$9.99
VIEW SOLUTION

OR

Non-Members

Get help from General Management Tutors
Ask questions directly from Qualified Online General Management Tutors.
Best for online homework assistance.