One key difference between an oligopoly market and a competitive market is that oligopolistic firms sell their products at a price equal to marginal cost while competitive firms do not. decisions made by oligopolistic firms are interdependent while with competitive firms they are not.

One key difference between an oligopoly market and a competitive market is that oligopolistic firms sell their products at a price equal to marginal cost while competitive firms do not. decisions made by oligopolistic firms are interdependent while with competitive firms they are not.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

One key difference between an oligopoly market and a competitive market is
that
oligopolistic firms sell their products at a price equal to marginal cost while
competitive firms do not.
decisions made by oligopolistic firms are interdependent while with competitive
firms they are not.
oligopolistic firms are price takers while competitive firms are not.
oligopolistic firms sell completely unrelated products while competitive firms do not.

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