One key difference between an oligopoly market and acompetitive market is that o

Question

One key difference between an oligopoly market and acompetitive market is that oligopolistic firms a.are price takers, while competitve firms are not. b. can affect the profit of other firms in the market by thechoices the make, while firms in competitive markets do not affecteach other by the choices they make. c.sell completely unrelated products, while competitive firmsdo not. d. sell their product at a price equal to marginal cost, whilecompetitive firms do not. One key difference between an oligopoly market and acompetitive market is that oligopolistic firms a.are price takers, while competitve firms are not. b. can affect the profit of other firms in the market by thechoices the make, while firms in competitive markets do not affecteach other by the choices they make. c.sell completely unrelated products, while competitive firmsdo not. d. sell their product at a price equal to marginal cost, whilecompetitive firms do not.

Explanation / Answer

b. can affect the profit of other firms in the market by thechoices the make, while firms in competitive markets do not affecteach other by the choices they make. ~ Since there are few firms, they have greater effects on themarket price

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