An oligopoly is a market structure in which:
A) one firm has 100 percent of a market.
B) there are many small firms.
C) there are many firms with no control over price.
D) there are few firms selling either a homogeneous or differentiated product.

Question

Quizplus · Accepted Answer

An oligopoly is a market structure in which there are few firms selling either a homogeneous (identical) or differentiated (slightly different) product. This means that each firm has some control over the price and can impact the market.

An Oligopoly Is a Market Structure in Which