Firms in an oligopolistic market ________ because they are ________. A. attempt to predict the behavior of other firms; strategically interdependent B. ignore other firms' actions; strategically independent C. form cartels; unable to predict the behavior of other firms D. advertise; unable to differentiate their products.
Firms in an oligopolistic market ________ because they are ________. A. attempt to predict the behavior of other firms; strategically interdependent B. ignore other firms' actions; strategically independent C. form cartels; unable to predict the behavior of other firms D. advertise; unable to differentiate their products.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Firms in an oligopolistic market ________ because they are ________.
A.
attempt to predict the behavior of other firms; strategically interdependent
B.
ignore other firms' actions; strategically independent
C.
form cartels; unable to predict the behavior of other firms
D.
advertise; unable to differentiate their products.
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Follow-up Question
Which of the following is a method a incumbent's can use to make limit pricing a credible threat?
A.
Forming a cartel.
B.
Building up excess capacity.
C.
Pinky swearing.
D.
Corporate sabotage.
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