The key characteristic of oligopoly is

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Oligopoly is characterized by strategic interaction among firms, meaning that the actions of one firm will have an impact on the actions and strategies of other firms in the same market. This is different from perfect competition where firms are price takers and have no influence on the market price. Strategic independence can be found in monopolistic competition, not in oligopoly. The number of resource suppliers is not a defining feature of oligopoly, and a low minimum efficient scale of production could apply to other market structures as well.

The Key Characteristic of Oligopoly Is