An industry described as an oligopoly would most likely have: A

Marketing Jan 12, 2021

An industry described as an oligopoly would most likely have:

A. normal profits in the long run.

B. no opportunities for collusive behavior.

C. significant barriers to entry.

D. price-taking behavior.

E. one firm with no close rivals.

Expert Solution

The correct option is:

C. significant barriers to entry.

An oligopoly market is characterized by presence of few firms with existence of entry barriers that do not allow new firms to enter the market easily.

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