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Introduction to Economics 1
Introduction to Economics 1 Deneme Sınavı
Introduction to Economics 1 Deneme Sınavı Sorusu #726415
Introduction to Economics 1 Deneme Sınavı Sorusu #726415
Which of the following statements does not refer to an oligopolist market structure where there is competition rather than collusion?
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Each producer chooses its own price. |
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Each firm takes the market price as given. |
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Firms choose the best response strategies against each other. |
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The firms act independently in the market. |
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Each firm takes the other firm's strategy as given. |
Yanıt Açıklaması:
Since there are only few firms, we cannot assume that each firm takes the market price as given as we have assumed in perfect competition. The Correct Answer is B.
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