Multiple Choice
If firms in an industry make output decisions that are partially based on the price and output decisions of their competitors, then these firms are in _______ market and have _______ with the other firms in the market.
A) an oligopoly or monopolistically competitive; interdependence
B) a monopolistically competitive; no interdependence
C) an oligopoly; no interdependence
D) an oligopoly; interdependence
Correct Answer:
Verified
Correct Answer:
Verified
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