Asked by
Veronica Maame
on Oct 12, 2024
Verified
An oligopolist must be very sensitive to its rivals because
A) there are so many that their actions are unpredictable.
B) the government doesn't regulate oligopolists when it comes to colluding on prices and quantities.
C) there are so few that their behavior may well have consequences for the firm.
D) oligopolists try not to use non-price competition since it seems to be unfair to the consumer.
E) they have little else to do.
Oligopolist
A company operating within an oligopoly market structure, where a small number of firms have a large majority of market share and can influence prices and competition.
Non-price Competition
A strategy by businesses to attract customers through methods other than lowering prices, such as quality improvement, marketing, or product differentiation.
- Separate various market organization types, with a special focus on the characteristics inherent to oligopolies.
Verified Answer
HF
Learning Objectives
- Separate various market organization types, with a special focus on the characteristics inherent to oligopolies.