The market structure characterized by a few interdependent firms and barriers to entry is called:
A)monopolistic competition.
B)perfect competition.
C)oligopoly.
D)monopoly.

Question

Quizplus · Accepted Answer

An oligopoly is a market structure characterized by a few interdependent firms and barriers to entry, as there are only a few firms in the industry, each firm's actions can have a significant impact on the other firm's profits. This gives the firms in the industry substantial market power, which they can use to limit competition and increase their profits.

The Market Structure Characterized by a Few Interdependent Firms and Barriers