Question
In an oligopoly, firms consider the reactions of rival
firms before changing their output or price. This is known as:Solution
Solution: Oligopoly markets are characterized by few large firms, so each firm’s decisions affect others. Because of this, firms anticipate reactions of rivals before making pricing or output decisions. This behavior is called strategic interdependence. Price leadership and collusion are specific strategies within oligopoly.
Nonplussed
In each of the following questions, three out of four words given have the same meaning. Mark the number as your answer which is different in meaning fr...
The kids have been pestering me to buy them new toys.
Warrior : Sword :: Surgeon :Â ?
All of us in today’s world are wanting to be _________ by the society.
“_________ it or leave “,said the boss in an aggressive ...
Autocracy
In the following question select the answer pair that expresses a relationship most similar to that expressed in the capitalised pair.
Venerate...
Select the most appropriate synonym of the given word.Â
RELUCTANT
Select the word which means the same as the group of words given.
Seeming reasonable
Select the most appropriate option to substitute the bold segment in the given sentence.
 Newton found out that the force of gravitation mak...
