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Homework answers / question archive / Which of the following is NOT a characteristic of an oligopoly? a
Which of the following is NOT a characteristic of an oligopoly?
a. small number of firms
b. has some pricing power
c. the firms are interdependent
d. the good produced may be unique or not
e. low barriers to entry
The correct option is:
e. low barriers to entry.
The oligopolistic market is characterized by high barriers to entry as these markets are dominated by a few large sellers and new firms often find it difficult to enter the market.
