Oligopoly is a market structure that is characterized by a _____ number of _____ firms producing _____ products.
A)small;interdependent;identical or differentiated
B)small;independent;identical or differentiated
C)large;relatively small independent;differentiated
D)large;relatively small independent;identical

Question

Quizplus · Accepted Answer

Oligopoly involves a small number of firms producing either identical or differentiated products. The firms in an oligopoly are interdependent, meaning their decisions affect each other's profits and market share. Option A accurately describes these characteristics.

Oligopoly Is a Market Structure That Is Characterized by a _____