The industry characterized by a few interdependent firms where there are barriers to entry is called:
A) monopolistic competition.
B) perfect competition.
C) oligopoly.
D) monopoly.

Question

Quizplus · Accepted Answer

An oligopoly is a market structure in which a few large firms dominate the industry and barriers to entry prevent new firms from entering. This results in limited competition and the firms in the industry often engage in strategic pricing and other behavior to maintain their market power.

The Industry Characterized by a Few Interdependent Firms Where There