Consider the following characteristics:
a)a market structure with barriers to entry
b)demand curves that are easily identified
c)firm cannot make zero profits in the long run
d)firm can reap long run profits
Which of the characteristics in the list above is shared by an oligopolist and a monopolist?
A)a, b and d
B)a, c, and d
C)a and d
D)a, b, c and d

Question

Quizplus · Accepted Answer

Both oligopolists and monopolists have barriers to entry (a) and can reap long run profits (d) due to limited competition.

Consider the Following Characteristics