Which of the following is a distinguishing characteristic of the oligopoly market structure?
A) easy entry
B) difficult entry
C) many, many firms
D) many, many close substitutes
E) firms's horizontal demand curves

Question

Quizplus · Accepted Answer

Oligopoly markets are characterized by a few large firms dominating the market, which often results in difficult entry for new competitors due to high barriers such as significant startup costs, access to technology, and regulatory hurdles.

Which of the Following Is a Distinguishing Characteristic of the Oligopoly