Author Question: The word oligopoly means A) elastic demand. B) few sellers. C) independent action. D) ... (Read 32 times)

yoroshambo · **on:** Jun 29, 2018

The word oligopoly means

A) elastic demand.
B) few sellers.
C) independent action.
D) interdependent selling.
E) predatory pricing.

Question 2

In a perfectly competitive market, a marginal entrant:

A) earns positive economic profits in the long run.
B) is the first firm to enter a market.
C) is indifferent between entering and not entering.
D) determines the market price of the good it produces.