When an oligopolist individually chooses its level of production to maximize its profits, it produces an output that is ?

A. more than the level produced by a monopoly and less than the level produced by a competitive market
B. less than the level produced by a monopoly and more than the level produced by a competitive market
C. less than the level produce by either monopoly or a competitive market
D. more than the level produced by either monopoly or a competitive market

Correct Answer: more than the level produced by a monopoly and less than the level produced by a competitive market ✔

Last Updated: June 18, 2019