Which of the following is not a characteristic of an oligopolistic industry?

Question

Quizplus · Accepted Answer

The presence of one dominant firm and low entry barriers is not a characteristic of an oligopolistic industry. In fact, an industry with one dominant firm is considered a monopoly, while oligopolies feature a small number of large firms. Additionally, oligopolies typically have substantial barriers to entry and the output produced by the firms may be homogeneous or differentiated.

Which of the Following Is Not a Characteristic of an Oligopolistic