"An oligopoly is an oligopoly.Firms behave the same no matter what type of oligopoly it is." This statement is:
A) true.
B) false.
C) true of homogeneous product industries.
D) None of the preceding answers is correct.

Question

Quizplus · Accepted Answer

Different types of oligopolies can have different characteristics and market structures, leading firms to behave differently. For example, a differentiated oligopoly where firms have significant brand recognition and product differentiation may behave differently than a non-differentiated oligopoly where all firms produce identical products. Therefore, it is false to assume that all oligopolies behave the same way.

"An Oligopoly Is an Oligopoly