When an oligopolist individually chooses its level of production to maximize its profits, it charges a price that is :
A. More than the price charged by either monopoly or a competitive market.
B. Less than the price charged by either monopoly or a competitive market.
C. More than the price charged by a monopoly and less than the price charged by a competitive market.
D. Less than the price charged by a monopoly and more than the price charged by a competitive market.
Answer:D
When an oligopolist individually chooses its level of production to maximize its profits, it charges a price that is :
A. More than the price charged by either monopoly or a competitive market. B. Less than the price charged by either monopoly or a competitive market. C. More than the price charged by a monopoly and less than the price charged by a competitive market. D. Less than the price charged by a monopoly and more than the price charged by a competitive market.