Which of these is a characteristic shared by both oligopolies and monopolies?
A) mutual interdependence
B) significant barriers to entry into the market
C) a few dominant firms in the industry
D) normal profits in the long run

Question

Quizplus · Accepted Answer

Both oligopolies and monopolies are characterized by significant barriers to entry into the market, which can include high startup costs, control over essential resources, or legal restrictions. This makes it difficult for new firms to enter the market and compete.

Which of These Is a Characteristic Shared by Both Oligopolies