A market is classified as an oligopoly when
A) a few firms compete.
B) many firms produce a slightly differentiated product.
C) no matter how many firms are in the market, a barrier blocks entry by other new firms.
D) many firms produce the same product.
E) only one firm sells a product with no close substitutes.
A
Economics
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Given the graph shown, the quantity that would be associated with the price of $4 in a supply table would be:
A. 2. B. 8. C. 6. D. 4.
Economics
Under perfect competition and monopolistic competition, profits are zero in long-run equilibrium.
Answer the following statement true (T) or false (F)
Economics