Which of the following is NOT a characteristic of an oligopoly? a

Marketing Jan 09, 2021

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

Expert Solution

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.

Archived Solution

Unlocked Solution

You have full access to this solution. To save a copy with all formatting and attachments, use the button below.

Already a member? Sign In

Important Note: This solution is from our archive and has been purchased by others. Submitting it as-is may trigger plagiarism detection. Use it for reference only.

For ready-to-submit work, please order a fresh solution below.

Or get 100% fresh solution

Get Custom Quote