An oligopoly market structure is distinguished by several characteristics, one of which is mutual interdependence. What...
An oligopoly market structure is distinguished by several characteristics, one of which is mutual interdependence. What are some other characteristics of this market structure? Check all that apply.
a. Either identical or differentiated products
b. Market control by many small firms
c. Market control by a few large firms
d. No entry
Homework Answers
Oligopoly is a market structure in which-
1.there are few large sellers and large number of buyers.
2.Thses few sellers control the market and the price .
3.there are barriers to entry and exit .
4.These few firms form cartel to have price decision and control over the market.
5.they generally trade in identical goods.
one of the best example for oligopoly can be OPEC that is oil and petroleum exporting countries.
they already have the cartels for price decision and market control of crude oil.
So the answer is option C
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An oligopoly market structure is distinguished by several
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An oligopolistic market structure is distinguished by several characteristics, one of which is either similar or...
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4. Characteristics of oligopoly
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