"An oligopoly is an oligopoly. Firms behave the same no matter what type of oligopoly it is." This statement is:
A) true.
B) false.
C) true of homogeneous product industries.
D) None of the answers is correct.

Question

Quizplus · Accepted Answer

Different types of oligopolies can behave differently depending on factors such as the level of barriers to entry, number of firms, and product differentiation. For example, a differentiated oligopoly may engage in more aggressive advertising and marketing strategies compared to a homogeneous oligopoly where firms compete mainly on price. Therefore, firms do not necessarily behave the same way in all types of oligopolies.

"An Oligopoly Is an Oligopoly