In an oligopolistic market, the product being produced can be either homogeneous or differentiated.

Name: In an oligopolistic market, the product being produced can be either homogeneous or differentiated.
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Question

Quizplus · Accepted Answer

In an oligopolistic market, firms can produce similar (homogeneous) products, such as steel or cement, or differentiated products, which are similar but vary in terms of branding, quality, or other features, like automobiles or smartphones.

In an Oligopolistic Market, the Product Being Produced Can Be