Fill in the blanks to make the following statements correct. a. Economists say that oligopolistic firms exhibit _______ behaviour. These firms are aware of and take account of the decisions of _______. b. The firms in an oligopoly have a collective incentive to _______ in order to maximize joint _______; individually, each firm has an incentive to _______ in order to maximize individual _______. c. Oligopolistic firms exhibit profits in the long run only if there are significant . d. Three examples of non-competitive behavior practised by firms with market power are , _______ , and _______. e. An important defence of oligopoly is the idea that it leads to more _______ than would occur in either perfect competition or monopoly. The oligopolistic firm has an incentive to_______ because it can expect to keep a good share of the resulting profit.
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