An oligopoly market situation has:
A) relatively few sellers--or a few large firms and many smaller firms which follow the lead of the larger ones.
B) essentially homogeneous products.
C) fairly inelastic industry demand.
D) All of these alternatives are correct.

Question

Quizplus · Accepted Answer

Oligopoly situations are special market situations that develop when a market has essentially homogeneous products, relatively few sellers or a few large firms and many smaller ones who follow the lead of the larger ones, and fairly inelastic industry demand curves.

An Oligopoly Market Situation Has