Asked by
Alanis Cuffey
on Nov 05, 2024
Verified
In an oligopolistic industry, the price firms charge and the quantity they produce would be the same as if the industry were a monopoly if
A) the market is contestable.
B) the oligopolists behave as Cournot assumed.
C) one of the oligopolists acts as a dominant firm price leader.
D) the oligopolists collude.
Oligopolistic Industry
A market structure characterized by a small number of firms controlling a large market share, leading to limited competition.
Dominant Firm
A company that has a large majority share of the market and can significantly influence the market price and competition.
- Separate the characteristics that define oligopoly models, focusing on Cournot, price leadership, and collusion tactics.
Verified Answer
HA
Learning Objectives
- Separate the characteristics that define oligopoly models, focusing on Cournot, price leadership, and collusion tactics.