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

Question

Quizplus · Accepted Answer

An oligopoly is a market structure in which a few firms dominate the market and have significant market power, often resulting in high barriers to entry for potential new competitors. Interdependence between firms in an oligopoly is also high, as they must consider the actions and reactions of their competitors when making strategic decisions.

An Industry Characterized by a Few Interdependent Firms and by Barriers