An oligopolistic industry has barriers to entry.

Question

Quizplus · Accepted Answer

An oligopolistic industry is characterized by a small number of large firms dominating the market, which creates barriers to entry for new competitors. These barriers might include economies of scale, control over key resources or distribution channels, brand recognition, or high start-up costs, among others. These challenges make it difficult for new players to enter the market and compete with established firms, leading to concentration and market power among the dominant players.

An Oligopolistic Industry Has Barriers to Entry