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An oligopoly is a market in which Question 12 Not yet answered Marked out of 1.50 Select one: O a. Firms are price takers, O

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An oligopoly is a market in which Question 12 Not yet answered Marked out of 1.50 Select one: O a. Firms are price takers, O b. There are many price-taking firms, each offering a product similar or identical to the products offered by other firms in the market. Flag question O c. There are only a few sellers, each offering a product similar or identical to the products offered by other firms in the market. O d. The actions of one seller in the market have no impact on the other sellers profits. Which of the following is supply function? Question 13 Not yet answered Select one: Marked out of 2.00 o a. Q + 5P = - 60 O b. Q = 30 - 4P Flag question c. Q-5P = 60 d. Q + 5P = 60

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