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20) Of the following, is the best example of an oligopolistic industry. A) retail grocery...

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20) Of the following, is the best example of an oligopolistic industry. A) retail grocery B) automobiles production C) electric power D) soybean farming 21) In oligopoly, firms A) are able to influence price only if the oligopolist's products are standardized. B) are able to influence price only if the oligopolist's products are differentiated. C) by virtue of their size, are able to influence price regardless of whether or not the product i differentiated or standardized. D) have no influence over price regardless of whether or not the product is differentiated or standardized. 22) One thing oligopolists must do in order to determine their optimal strategy is A) anticipate the reaction of their rivals to their strategy. B) ignore the reaction of their rivals to their strategy. C) ignore the reaction of their customers to their strategy. D) anticipate the reaction of government to their strategy. Activate Windows Go to Settings to activate Windows

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