Oligopoly is likely to occur whenever the number of firms is so small that any change in output or price by one firm appreciably impacts the sales of competing firms.
a. True
b. False
Indicate whether the statement is true or false
Question 2
Which of the following is a new law on fishing imposed by the government to increase the total supply of fish?
a. Holders of fishing rights are not allowed to resell them to others.
b. Governments have issued licenses that limit catches and fishing seasons.
c. Quotas have enforced higher catches in coastal areas.
d. Governments around the world have reduced their offshore jurisdictions.
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