Author Question: It is harder to explain the behavior of firms in oligopoly than in other market structures because ... (Read 145 times)

jjjetplane · **on:** Jun 30, 2018

It is harder to explain the behavior of firms in oligopoly than in other market structures because in oligopoly
a. the firms act independently of each other
b. firms base their decisions on what their rivals do
c. only differentiated products are produced
d. only homogeneous products are produced
e. the demand curve can slope upward

Question 2

Rent seekers are those who seek to
a. use the government to protect their existing property interests
b. use the government to change the rules of the market game in their favor
c. convert public land into private land
d. convert public resources into private resources
e. maximize their own private gains from trade