In an oligopoly there are typically ___________ competitors.
A) 0-1
B) 1-2
C) 2-3
D) 3-4
E) 4-5

Question

Quizplus · Accepted Answer

An oligopoly refers to a market structure in which there are only a few dominant competing firms. The exact number of firms can vary, but typically there are 2-3 significant competitors in the market. Therefore, option C is the best choice. Options A and B are incorrect as they suggest that there is either no competition or only one other competitor, which is not common in an oligopoly. Options D and E suggest that there are too many competitors, which would refer to a more competitive market structure such as monopolistic competition or perfect competition.

In an Oligopoly There Are Typically ___________ Competitors