Which of the following is a unique characteristic of the oligopolistic market structure?
A) low barriers to entry
B) a large number of firms producing highly differentiated products that are complements to each other
C) product differentiation among the products produced by individual firms
D) mutual interdependence among firms in demand, and thus, in price decisions

Question

Quizplus · Accepted Answer

In an oligopolistic market, a few firms dominate the market, and each firm's pricing and output decisions are influenced by the actions of other firms, leading to mutual interdependence.

Which of the Following Is a Unique Characteristic of the Oligopolistic