Which of the following is NOT a characteristic of oligopoly firms?
A) strategic dependence
B) product differentiation
C) non-price competition, such as advertising and promotions
D) perfectly elastic demand curves

Question

Quizplus · Accepted Answer

Oligopoly firms generally have relatively inelastic demand curves due to limited substitute options and market power. A perfectly elastic demand curve indicates that consumers are extremely sensitive to any changes in price, which is not the case in an oligopoly market.

Which of the Following Is NOT a Characteristic of Oligopoly