Which of the following is NOT a feature of Sweezy oligopoly?
A) There are few firms in the market serving many consumers.
B) The firms produce homogeneous products.
C) Each firm believes that rivals will cut their prices in response to a price reduction, but will not raise their prices in response to a price increase.
D) Barriers to entry exist.

Question

Quizplus · Accepted Answer

Sweezy oligopoly involves firms producing differentiated products, not homogeneous ones.

Which of the Following Is NOT a Feature of Sweezy