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Oligopoly

Practice MCQs under Oligopoly. 24 available Open paginated MCQ list →

Questions

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1.In an oligopoly market structure, firms typically tend to:

Focus extensively on brand promotionOperate without considering competitors' actionsAttempt to create unique product variationsSeek to influence and set pricesIgnore market competition

2.In the context of Game Theory, how do firms typically make decisions?

Firms are presumed to operate without influence from othersFirms are expected to work together collaborativelyFirms form cartels and engage in collusionFirms take into account the potential moves of competitors before acting

3.According to the kinked demand curve model, what is assumed about a firm's price increase?

Other firms do not match the firm's price hikeRival companies respond by raising their prices as wellCompetitors react by lowering their pricesCompanies cooperate to set a common price

4.What is the term for a market structure where a small number of companies control the majority of the industry?

Monopolistic competitionCompetitive monopolyDuopolyOligopolyMonopoly

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