Which of the following statements about industries that are oligopolies is false
A)firms in these industries may attempt to cooperate
B)firms in these industries are interdependent
C)the fact that there is more than one firm in an oligopoly means that there are no barriers to entry
D)an oligopoly with two firms is called a duopoly

Question

Quizplus · Accepted Answer

The statement that there are no barriers to entry in an oligopoly because there is more than one firm is false. In reality, oligopolies often have significant barriers to entry, such as high startup costs, access to technology, or regulatory hurdles, which help maintain the position of existing firms.

Which of the Following Statements About Industries That Are Oligopolies