Which of the following statements about oligopolistic markets is correct?
A) Firms in an oligopoly face an upward-sloping demand curve for their products.
B) There are a large number of small firms in an oligopoly.
C) An oligopolist is a price-setter in the output market.
D) The degree of market power enjoyed by firms in an oligopoly is very low.
Correct Answer:
Verified
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