Which characteristic of an oligopoly firm is MOST similar to a monopoly?
A) significant product differentiation
B) easy entry into and exit from the market
C) a few large firms in the industry
D) significant barriers to entry

Question

Quizplus · Accepted Answer

Significant barriers to entry are a characteristic most similar to a monopoly because both oligopolies and monopolies have high barriers that prevent new firms from entering the market easily, maintaining the market power of existing firms.

Which Characteristic of an Oligopoly Firm Is MOST Similar to a Monopoly