Asked by
Carina McCullough
on Oct 12, 2024
Verified
Which one of these firms would be an oligopolist?
A) The only medical doctor in Farmer City,Illinois
B) A wheat farmer near Ogallala,Nebraska
C) Hewlett-Packard (computers)
D) The Billy Goat Tavern in Chicago
Oligopolist
A market participant in an oligopoly, meaning they are one of a few firms dominating a particular industry, often influencing prices and market conditions.
Hewlett-Packard
An American multinational information technology company known for its wide range of hardware components as well as software and related services.
Medical Doctor
A professionally trained and licensed individual authorized to practice medicine, including diagnosing illnesses and prescribing and administering treatment for people suffering from injury or disease.
- Acquire knowledge of the fundamental characteristics of oligopolies and their impact on economic structures.
- Apply knowledge of oligopolies and their strategies to real-world economic situations.
Verified Answer
SB
Learning Objectives
- Acquire knowledge of the fundamental characteristics of oligopolies and their impact on economic structures.
- Apply knowledge of oligopolies and their strategies to real-world economic situations.