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MMLU-Pro / 7548 / Suppose that the four firms in an oligopoly are getting togetherto collude. How…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

Suppose that the four firms in an oligopoly are getting togetherto collude. How might ease of entry into their industryaffect how high they set their prices?

category

economics

options

  1. Prices should be set based on the average industry price, regardless of entry difficulty.
  2. Prices should not be set so high as to attract too many new entrants.
  3. High entry barriers will allow firms to set lower prices.
  4. Prices can be set arbitrarily as new entrants will always be matched in price.
  5. More firms entering the market will strengthen the oligopoly.
  6. Prices should be lowered to the cost of production to deter new entrants.
  7. Prices should be set extremely high to earn large profits.
  8. Firms should focus on increasing market share instead of setting prices.
  9. The ease of entry is directly proportional to the level of price increase.
  10. Ease of entry doesn't affect price setting.

src

stemez-Economics

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Source and history

upstream_id / Original problem ID
7548
task_id
f23beed3-08e4-530a-b039-901e0aff295f
task_key
default--test--7548
task_revision_id
1
config / split
default / test

Official source

initial import