Author Question: In oligopoly, firms (Read 18 times)

pane00 · **on:** Apr 19, 2019

Question 1

The market structure in which the behavior of any given firm depends on the behavior of the other firms in the industry is

◦ perfect competition.
◦ monopoly.
◦ monopolistic competition.
◦ oligopoly.

Question 2

In oligopoly, firms

◦ are able to influence price only if the oligopolist's products are standardized.
◦ are able to influence price only if the oligopolist's products are differentiated.
◦ by virtue of their size, are able to influence price regardless of whether or not the product is differentiated or standardized.
◦ have no influence over price regardless of whether or not the product is differentiated or standardized.

Anna · **Reply #1 on:** Apr 19, 2019

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