Practice - Oligopoly - 3.6
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Practice Questions
Test your understanding with targeted questions
What is an oligopoly?
💡 Hint: Think about how many companies control the market.
Name a characteristic of oligopoly.
💡 Hint: How do companies react to each other's pricing?
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What is the main feature of an oligopoly?
💡 Hint: Think about how many dominant companies there usually are.
In oligopoly, firms are known for their _______ pricing strategies.
💡 Hint: What is it called when firms rely on each other?
2 more questions available
Challenge Problems
Push your limits with advanced challenges
Analyze the situation where a new company enters an oligopolistic market. What effect will this have on existing companies and the market as a whole?
💡 Hint: Consider how the behavior of the established firms may change with new competition.
Critically evaluate the potential long-term effects of price rigidity for consumers in an oligopoly market. What could happen?
💡 Hint: Think about how consumers react when they have fewer choices.
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