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What is the definition of an oligopoly?
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Asked 4/9/2016 9:21:55 AM
Updated 4/9/2016 11:57:33 AM
1 Answer/Comment
This answer has been confirmed as correct and helpful.
Edited by jeifunk [4/9/2016 11:56:52 AM], Confirmed by jeifunk [4/9/2016 11:56:54 AM]
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User: What is the definition of an oligopoly?

Weegy: An oligopoly is a market form in which a market or industry is dominated by a small number of sellers (oligopolists).

yumdrea|Points 27846|

User: What happens to a monopolistically competitive firm that begins to charge an excessive price for its product?

Question
Asked 4/9/2016 9:21:55 AM
Updated 4/9/2016 11:57:33 AM
1 Answer/Comment
This answer has been confirmed as correct and helpful.
Edited by jeifunk [4/9/2016 11:56:52 AM], Confirmed by jeifunk [4/9/2016 11:56:54 AM]
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Consumers will substitute a rivals product, this happens to a monopolistically competitive firm that begins to charge an excessive price for its product.
Added 4/9/2016 11:57:33 AM
This answer has been confirmed as correct and helpful.
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When people conduct business without regard for government controls on price or quantity, it is called a black market.
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Updated 4/8/2016 1:34:11 PM
1 Answer/Comment
When people conduct business without regard for government controls on price or quantity, it is called a black market. TRUE.
Added 4/8/2016 1:33:39 PM
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Factors that make it difficult for new firms to enter a market are called
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Updated 4/8/2016 1:59:02 PM
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Factors that make it difficult for new firms to enter a market are called barriers to entry.
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A mass refusal to buy products from certain employers or companies.
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Updated 4/9/2016 2:35:32 PM
1 Answer/Comment
A mass refusal to buy products from certain employers or companies is: Boycott.
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Workers who have the skills to operate machines and who require a minimum amount of training are
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Updated 4/13/2016 8:57:15 AM
1 Answer/Comment
Semiskilled labor are workers who have enough mechanical abilities and skills to operate machines that require a minimum amount of training.
Added 4/13/2016 8:57:15 AM
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