A characteristic of oligopoly that is not present in any other market structure is that there
A)is only one seller and that seller has a high level of market power.
B)are many sellers and each produces its own version of the product.
C)are a small number of sellers with considerable market power.
D)are many sellers that produce identical products.

Question

Quizplus · Accepted Answer

Oligopoly is characterized by a small number of sellers with considerable market power. This means that these few firms have a significant influence on the market price and can affect their competitors' behavior. This market structure also allows for strategic decision-making, such as price discrimination and collusion, which is not present in other market structures. The other choices do not accurately describe the characteristics of an oligopoly.

A Characteristic of Oligopoly That Is Not Present in Any