1. Characteristics of oligopoly An oligopolistic market structure is distinguished by several characteristics, one of which is either similar or identical products. Which of the following are other characteristics of this market structure? Check all that apply. O Difficult entry O Market control by a few large firms O Neither mutual interdependence nor mutual dependence O Mutual interdependence O Market control by many small firms
1. Characteristics of oligopoly An oligopolistic market structure is distinguished by several characteristics, one of which is either similar or identical products. Which of the following are other characteristics of this market structure? Check all that apply. O Difficult entry O Market control by a few large firms O Neither mutual interdependence nor mutual dependence O Mutual interdependence O Market control by many small firms
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter10: Monopolistic Competition And Oligopoly
Section: Chapter Questions
Problem 3SCQ: Consider the curve in the figure below, which shows the market demand. marginal cost, and marginal...
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The phrase oligopoly comes from the Latin words 'olgoi', which means "few," and 'plé,' which means "to sell." As a result, it translates to 'few sellers.' This is one of the five fundamental criteria of an oligopoly, which we will explore further down. In economics, an oligopoly is a sort of market structure in which two or more enterprises control the market. They can control prices and supply when they work together. They are, however, powerless to affect the market on their own.
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