Practice quiz 3

The term oligopoly indicates

A few firms producing either a differentiated or homogeneous product

Which of the following statements is true

Games with the noun ending date undermine reciprotity stratgeies

Dumping of goods abroad

Maybe part of a firms price discrimination a strategy

A basic assumption of the two nation production possibilities curve that are straight lines is that

Opportunity costs are constant

And excise tax that is applied to imported products which are not produce domestically is an

Revenue tariff

if oligopolistic firms facing similar cost and demand conditions successfully collude price and Output results in this industry will be most accurately predicted by which of the following models

The pure monopoly model

Price discrimination refers to

The selling of a given product at different prices that do not reflect cost differences