Oligopolistic industries are characterized by:

A) a few dominant firms and substantial entry barriers.
B) a few dominant firms and no barriers to entry.
C) a large number of firms and low entry barriers.
D) a few dominant firms and low entry barriers.

Substantial Entry Barriers

Significant obstacles that prevent or hinder new competitors from easily entering an industry or market.

Dominant Firms

Companies that possess a major share of the market and typically have considerable power to influence market conditions and prices.

Low Entry Barriers

Characteristics of a market or industry that make it easy for new companies to start operations and compete.