Which of the following may not characterize an oligopoly?
A)A few firms.
B)No market power.
C)High barriers to entry.
D)Substantial control over price.

Question

Quizplus · Accepted Answer

One of the key characteristics of an oligopoly is that the few firms in the market have significant control over price, which is not true for a market where there is no market power. Therefore, option B may not characterize an oligopoly. The remaining options A, C, and D all describe common characteristics of an oligopoly.

Which of the Following May Not Characterize an Oligopoly