Asked by Botle Jacqueline on May 11, 2024
Verified
Which one of these firms would be an oligopolist?
A) Proctor & Gamble
B) A family farm
C) A McDonald's restaurant in Manhattan
D) The only dentist in Hendry County,Florida
Oligopolist
A firm or entity that operates in a market structure characterized by a small number of firms dominating the market, leading to limited competition.
Proctor & Gamble
A multinational corporation specializing in consumer goods ranging from personal care to cleaning products.
Family Farm
A farm owned and operated by a family, typically involving residential family members in its operations.
- Understand the characteristics and behaviors of oligopolistic firms.
Verified Answer
EK
Emily KiesslingMay 15, 2024
Final Answer :
A
Explanation :
Proctor & Gamble is a large company that operates in various markets, such as household and personal care products. It has a significant market share and can impact the market price, making it an example of an oligopolist.
Learning Objectives
- Understand the characteristics and behaviors of oligopolistic firms.