Which of the following is a characteristic of an oligopolistic industry?
A) interdependence of a firm's price and output decisions
B) low barriers to entry
C) small output of individual firms relative to the total market
D) a large number of competing firms

Question

Quizplus · Accepted Answer

In an oligopolistic industry, firms are interdependent, meaning the price and output decisions of one firm affect and are affected by the decisions of other firms in the market.

Which of the Following Is a Characteristic of an Oligopolistic