Ch. 14 example #79329

Which of the following is the best example of an oligopolistic industry? the beef market the pharmaceutical industry public education the beauty products industry

All of the following are examples of oligopolistic markets except the broadcasting industry aircraft manufacture college bookstores seafood restaurant chains

In an oligopoly market the pricing decisions of all other firms have no effect on an individual firm. individual firms pay no attention to the behavior of other firms. advertising of one firm has no effect on all other firms. one firm's pricing decision affects all the other firms.

A characteristic found only in oligopolies is break even level of profits interdependence of firms. independence of firms. products that are slightly different

The value of the four-firm concentration ratio that many economists consider indicative of the existence of an oligopoly in a particular industry is anything greater than 10 percent. anything greater than 20 percent. anything greater than 30 percent. anything greater than 40 percent.

Which of the following is not a barrier to entry? an inelastic demand curve economies of scale ownership of a key input a patent

What is a prisoner's dilemma? a game that involves no dominant strategies a game in which prisoners are stumped because they cannot communicate with each other a game in which players act in rational, self-interested ways that leave everyone worse off a game in which players collude to outfox authorities

In an oligopoly, firms can increase their market power by selling to buyers who have market power. pursuing dominant strategies. colluding to set prices. undertaking heavy advertising expenditure.