siddeeqsternes2994 siddeeqsternes2994

28-08-2020
Business

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One would expect that collusion among oligopolistic producers would be easiest to achieve in which of the following cases?
A) a rather large number of firms producing a differentiated product
B) a very small number of firms producing a differentiated product
C) a rather large number of firms producing a homogeneous product
D) a very small number of firms producing a homogeneous product

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isaacoranseola isaacoranseola

28-08-2020

Answer:

D) a very small number of firms producing a homogeneous product

Explanation:

Oligopoly : An industry structure in which there are a few firms producing products which range from slightly differentiated to highly differentiated.

A homogeneous product is one that cannot be distinguished from competing products from different suppliers. Meaning, the product has essentially the same physical characteristics and quality as similar products from other suppliers.

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