Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Non Competitive markets

Question:
Which of the following are true-
a) In oligopoly market structure, a firm may be producing homogenous or differentiated products.
b) In oligopoly market structure, firms many a times behave like a group and corporate with each other in price and output decisions.
Options:
Both a and b are true
a is true, b is not
b is true, a is not
Both a and b are false
Correct Answer:
Both a and b are true