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.
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
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