Which of the following scenarios is a negative example of an oligopoly? Wireless phone companies have nearly eliminated standard cell phones, forcing consumers to buy smartphones. Soft drink companies offer several choices to consumers, including regular, diet, zero sugar, and accent flavors such as cherry or lemon. Automobile companies continue to improve vehicles and invent new features to appeal to consumers. Fast-food chains keep prices low to entice consumers.
Which of the following scenarios is a negative example of an oligopoly? Wireless phone companies have nearly eliminated standard cell phones, forcing consumers to buy smartphones. Soft drink companies offer several choices to consumers, including regular, diet, zero sugar, and accent flavors such as cherry or lemon. Automobile companies continue to improve vehicles and invent new features to appeal to consumers. Fast-food chains keep prices low to entice consumers.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Which of the following scenarios is a negative example of an oligopoly?
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Wireless phone companies have nearly eliminated standard cell phones, forcing consumers to buy smartphones.
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Soft drink companies offer several choices to consumers, including regular, diet, zero sugar, and accent flavors such as cherry or lemon.
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Automobile companies continue to improve vehicles and invent new features to appeal to consumers.
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Fast-food chains keep prices low to entice consumers.
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