What are the characteristics of an oligopoly?
What will be an ideal response?
An oligopoly market is characterized by a few dominant firms selling either a standardized or differentiated product. An oligopoly is also characterized by mutual interdependence and has strong barriers to entry keeping potential competitors out of the market.
Economics
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What is the relationship between the aggregate planned expenditure curve and the aggregate demand curve? Explain the relationshi
What will be an ideal response?
Economics
A specific reduction in government spending will dampen demand-pull inflation by a greater amount the:
A. smaller is the economy's MPC. B. flatter is the economy's aggregate supply curve. C. smaller is the economy's MPS. D. less is the economy's built-in stability.
Economics