Which of the following is a characteristic of the oligopoly ...

[justinmsk]

Which of the following is a characteristic of the oligopoly model?
 a. The oligopoly market consists of only a small number of sellers.
  b. The sellers in an oligopoly market are price takers.
  c. The output decisions taken by sellers are uniform and steady.
  d. There are barriers to the exit of firms in an oligopoly market.

Question 2

A monopolist always produces on the elastic portion of the demand curve.
 a. True
  b. False
  Indicate whether the statement is true or false

[yifu223]

Answer to Question 1

A

Answer to Question 2

True