Multiple Choice
Consider the following characteristics of a particular industry: - the four-firm concentration ratio is 78% (in the relevant market)
- each firm produces output where P > MC
- the products are highly differentiated
This industry is likely to be
A) an oligopoly.
B) one where each firm has limited market power.
C) monopolistic.
D) perfectly competitive.
E) a cartel.
Correct Answer:
Verified
Correct Answer:
Verified
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