In an oligopoly,output is
A) less than the output in monopoly.
B) greater than the output in perfect competition.
C) in all circumstances the same as the output in perfect competition.
D) somewhere between the output in monopoly and that in perfect competition outcomes.
E) in all circumstances the same as the output in monopoly.

Question

Quizplus · Accepted Answer

In an oligopoly, firms have some market power but are still competing with each other. Therefore, the output will be less than perfect competition but more than a monopoly. This means that the output will be somewhere between the output in monopoly and that in perfect competition outcomes.

In an Oligopoly,output Is