In an oligopoly, ________.
A) there is only one seller in the market
B) the industry is characterized as concentrated
C) firms are typically regulated
D) the industry is characterized as fragmented

Question

Quizplus · Accepted Answer

An oligopoly is a market structure characterized by a few large firms dominating the industry, resulting in a concentrated market. This means that there are few sellers in the market and a high level of market power. Regulation may or may not be present in an oligopoly depending on the industry and country. A fragmented industry would have many small firms competing, which is not characteristic of an oligopoly.

In an Oligopoly, ________