Which of the following is not a characteristic of an oligopoly?

Question

Quizplus · Accepted Answer

Low barriers to entry are not a characteristic of an oligopoly. In fact, oligopolies typically have high barriers to entry, which can make it difficult for new firms to enter the market and compete with established players. The other three options are all characteristics of an oligopoly - firms in an oligopoly have the ability to influence price, there are a small number of firms in the market, and these firms are interdependent, meaning they must take into account the actions of their competitors when making decisions.

Which of the Following Is Not a Characteristic of an Oligopoly