Which of the following is NOT true of an oligopolistic market? Barriers to entry are high Firms will set price to be less than marginal
Which of the following is NOT true of an oligopolistic market?
Barriers to entry are high
Firms will set price to be less than marginal cost
Firms are interdependent and one firm's actions can be influenced by those of other firms
There are relatively few firms
The price set by firms will be greater than that which is socially optimal
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Authors: Jeffrey M. Wooldridge
4th edition
978-0324581621, 324581629, 324660545, 978-0324660548
