An oligopolistic industry is characterised by all of the following except

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In an oligopolistic industry, firms typically do not pursue aggressive business strategies independent of rivals' strategies. Instead, they are often interdependent and carefully monitor their competitors' actions. The other options – existence of entry barriers, the possibility of reaping long-run economic profits, and production of standardised products – are all characteristics of oligopolies.

An Oligopolistic Industry Is Characterised by All of the Following