In an oligopolistic market, prices will tend to be closer to the competitive price:
A) the more government regulation there is in the market.
B) when the product is more distinguishable from its competitors.
C) the greater the number of firms in the industry.
D) the greater the number of sales.

Question

Quizplus · Accepted Answer

In an oligopolistic market, as the number of firms increases, the market becomes more competitive, leading prices to be closer to the competitive price.

In an Oligopolistic Market, Prices Will Tend to Be Closer