Principles of Microeconomics, 7th Edition

by Mankiw, N. Gregory

Published by South-Western College

ISBN 10: 128516590X

ISBN 13: 978-1-28516-590-5

Chapter 17 - Part V - Oligopoly - Quick Check Multiple Choice - Page 366: 1

Answer

d) small number of firms acting strategically

Work Step by Step

In an oligopolistic market, a small number of firms can maximize their profits by coordinating their production levels and prices to jointly act like a monopolist.

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