Which of the following is a characteristic of oligopoly?
A) Mutual firm independence
B) Zero economic profits in the short run
C) Marginal cost pricing
D) Only a few firms in the industry

Question

Quizplus · Accepted Answer

Oligopoly is characterized by only a few firms in the industry. Mutual firm independence may be present, but not always. Economic profits may or may not be zero in the short run, and marginal cost pricing is not typically observed in oligopolies.

Which of the Following Is a Characteristic of Oligopoly