Which of the following is a characteristic of an oligopoly market?
A) control over price
B) diseconomies of scale in production
C) firms act independently without regard to each other
D) all of the above

Question

Quizplus · Accepted Answer

An oligopoly market is characterized by a small number of firms controlling a significant market share, and they have the ability to influence prices due to limited competition. Therefore, control over price is a key characteristic of an oligopoly market. Diseconomies of scale may or may not exist in an oligopoly market, and firms in an oligopoly market do not act independently but rather are interdependent and often engage in strategic behavior.

Which of the Following Is a Characteristic of an Oligopoly