Social Studies

12th

grade

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Oligopolies

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10 questions

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  • 1. Multiple Choice
    45 seconds
    1 pt

    Which of the following best describes an oligopistic market?

    Many sellers with identical barriers to entry

    Many sellers, each with a clearly differentiated product, and no barriers to entry

    A few competing sellers with similar products and high barriers to entry

    A few competing sellers of identical products and no barriers to entry

    No competition among sellers and high barriers to entry

  • 2. Multiple Choice
    2 minutes
    1 pt
    Image

    Neither company has a dominant strategy

    Both companies have an incentive to reduce production by %10

    Both companies have an incentive to reduce production by %20

    Only UA have an incentive to reduce production by %20

    Only UB have an incentive to reduce production by %20

  • 3. Multiple Choice
    1 minute
    1 pt

    Game theory is used to explain

    why firms price discriminate

    how monopolies evolve into oligopolies

    strategic behavior of firms in oligopoly

    profit maximization in monopoly

    price leadership of monopolistic competition

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