Oligopoly is an industry with a small number of firms producing ...

[rayancarla1]

Oligopoly is an industry with a small number of firms producing homogeneous or differentiated goods with minimal barriers to entry.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If the costs of negotiating and enforcing contracts are _____ relative to the benefits, buyers and sellers have incentives to make economically efficient arrangements that _____ value.
 a. high; increase
  b. low; increase
  c. high, decrease
  d. low; decrease

[tanna.moeller]

Answer to Question 1

False

Answer to Question 2

B