Markets dominated by a few large sellers producing either differentiated or identical products, and into which entry is difficult are:
A) oligopolies.
B) monopolies.
C) purely competitive.
D) monopolistically competitive.

Question

Quizplus · Accepted Answer

Oligopolies are markets characterized by a few large sellers, where the products can be either differentiated or identical, and entry barriers are high, making it difficult for new firms to enter the market.

Markets Dominated by a Few Large Sellers Producing Either Differentiated