What are the characteristics of an oligopoly?

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

You might also like to view...

Refer to the scenario above. Julie should place a bid of ________

A) $300 B) $150 C) $200 D) $250

View
Economics

The costs of unemployment are lowest (and perhaps even negative) for ________ unemployment.

A. structural B. cyclical C. frictional D. cyclical and structural

View
Economics