Which of the following companies most closely approximates a homogenous oligopolist in a highly concentrated industry?The correct answer is A) The cigarette industry. The cigarette industry most closely approximates our definition of oligopoly. Tobacco producers follows the model of cooperative oligopolistic industry in the US.
Which of the following is the best example of a differentiated oligopoly?The correct answer is a.
The best illustration of an oligopoly is the automobile industry. An oligopoly is a market with imperfect competition in which a few major businesses dominate the industry as the automobiles industry dominates numerous others by providing identical goods and services.
Which is an example of a differentiated oligopoly quizlet?An example would be steel or aluminum. A differentiated oligopoly is when the products are the same but you can differentiate between the two. This would be like car producing companies.
What is a differentiated oligopoly quizlet?Differentiated Oligopoly. an oligopoly that sells products that differ across suppliers, such as automobiles or breakfast cereals. Collusion. an agreement among firms to increase economic profit by dividing the market or fixing the prices. Cartel.
|