Answered: Firms in an oligopolistic market…

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

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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