Which of the following is true of oligopoly?
A) Firms change their prices less frequently than do perfect competitors.
B) A large number of firms control all or most of the production and sale of a product.
C) Firms normally earn zero economic profits in the long run.
D) It is characterized by substantial diseconomies of scale.
E) It is characterized by few barriers to entry into the market.
Correct Answer:
Verified
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