Oligopolistic industries are characterized by a
A) few large firms and no barriers to entry.
B) large number of firms and no barriers to entry.
C) few large firms and substantial barriers to entry.
D) large number of firms and substantial barriers to entry.

Question

Quizplus · Accepted Answer

Oligopolistic industries are characterized by a few large firms, which have significant market power and can influence prices. These industries also have substantial barriers to entry, which prevent new firms from entering the market and competing with the existing firms. This allows the existing firms to maintain their market power and profitability.

Oligopolistic Industries Are Characterized by a