Which of the following statements about oligopoly are FALSE:     A. Oligopolies have a tendency to collude and form cartels in order to split monopoly like profits   B. Oligopolistic markets under collusion are socially inefficient (create deadweight loss)   C. If two firms are in a collusion and Firm 1 violates the agreement by lowering the price, Firm 1 will increase its own profit but overall profit in the industry will go down   D. All of the above statements are true

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Q: What is an example of an oligopoly industry? What makes this industry an oligopoly? What will rival…

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A:

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Q: True/False Please explain Why is True/False

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