International managers must collaborate with local managers to expand their business in the international market.
Indicate whether the statement is true or false
Question 2
Which of the following differentiates oligopoly from perfect competition?
A) In an oligopoly, firms have the ability to differentiate their products from competitors, while in perfect competition, firms remain in a high rivalry where the actions of one firm affect the other
B) In an oligopoly, there are relatively few companies that dominate the market; while in perfect competition, many similar firms compete in the market.
C) In perfect competition, customers have few viable substitutes available; while in an oligopoly, customers have many substitutes to choose from.
D) In an oligopoly, firms have the ability to promote their products differently from competitors; while in perfect competition, product differentiation helps companies compete.
E) In perfect competition, companies have total control over price because they can differentiate their products; while in an oligopoly, companies have no influence on the price.
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