Which would be most characteristic of oligopoly?
A) Easy entry into the industry
B) Many large producers
C) Product standardization
D) Mutual interdependence

Question

Quizplus · Accepted Answer

Oligopoly refers to a market structure with a small number of large firms. Mutual interdependence is a key feature of oligopoly, where the actions of one firm have a significant impact on the others. Easy entry into the industry, many large producers, and product standardization are characteristics of other market structures such as perfect competition, monopolistic competition, and monopoly, respectively.

Which Would Be Most Characteristic of Oligopoly