Which of the following statements describes an oligopoly?
A) In an oligopoly,three or four firms usually dominate the marketplace.
B) In an oligopoly,there are many firms selling identical products.
C) Market entry into an oligopoly is easy.
D) Capital requirements are minimal for entering an oligopolistic market.

Question

Quizplus · Accepted Answer

An oligopoly is a market dominated by a small number of firms, typically three to four major players who control a significant portion of the market share.

Which of the Following Statements Describes an Oligopoly