An oligopoly is an industry composed of:

Question

Quizplus · Accepted Answer

An oligopoly is an industry where there are only a few producers or sellers of a good, where these producers recognize their interdependence. This means that each producer must take into account the actions and reactions of their competitors before making any decisions about how much to produce, what price to charge, and how to market their products. This interdependence leads to a complex web of strategic behavior and can result in collusion or competition depending on the incentives and goals of the firms involved.

An Oligopoly Is an Industry Composed Of