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Question 101 Point Which of the following statements about oligopolistic markets is correct? Firms in an oligopoly face an upward-sloping demand curve for their products

Question 101 Point

Which of the following statements about oligopolistic markets is correct?

Firms in an oligopoly face an upward-sloping demand curve for their products

The degree of market power enjoyed by firms in an oligopoly is very low

There are a large number of small firms in an oligopoly

An oligopolist is a price-setter in the output market

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