Asked by
Emily Gomez
on Oct 12, 2024
Verified
Which statement is false?
A) All oligopolies have only a few firms.
B) Most firms in the United States are oligopolies.
C) Administered prices are most likely to occur under oligopoly.
D) In all market structures,price is always read off the demand curve.
Administered Prices
Prices that are set by a manufacturer, company, or regulatory body rather than being determined by market supply and demand.
Market Structures
The organizational and competitive characteristics of markets, including aspects like the number of sellers and degree of product differentiation.
Demand Curve
A graphical representation of the relationship between the price of a good and the quantity demanded, typically downward sloping, showing an inverse relationship between price and quantity demanded.
- Apprehend the key aspects of oligopolies and their implications for economic dynamics.
- Grasp the legal and regulatory challenges associated with oligopolies and anti-competitive practices.
Verified Answer
AB
Learning Objectives
- Apprehend the key aspects of oligopolies and their implications for economic dynamics.
- Grasp the legal and regulatory challenges associated with oligopolies and anti-competitive practices.