Krugman's Economics For The Ap® Course
3rd Edition
ISBN: 9781319113278
Author: David Anderson, Margaret Ray
Publisher: Worth Publishers
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Question
Chapter 57, Problem 3MCQ
To determine
Oligopoly
Expert Solution & Answer
Explanation of Solution
In oligopoly, there is small number of interdependent firms because they are interdependent in pricing and output policies.
Therefore, the correct option is d.
Economics Concept Introduction
Introduction:
In oligopoly, there are few firms and they experience economies of scale, firms have price or market power and they need to collude.
Chapter 57 Solutions
Krugman's Economics For The Ap® Course
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