Asked by
jason dhillon
on Nov 26, 2024Verified
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.
Oligopolistic Industries
Oligopolistic industries are characterized by a market structure in which a small number of firms have large control over market share, leading to limited competition and significant influence over prices and products.
Dominant Firms
Companies that hold a large market share within their industry, influencing market conditions and prices.
Entry Barriers
Obstacles that prevent or hinder potential competitors from entering a market or industry.
- Familiarize oneself with the essence and aspects of oligopoly.
- Understand the significance of barriers to entry in oligopolistic industries.
Verified Answer
LC
Learning Objectives
- Familiarize oneself with the essence and aspects of oligopoly.
- Understand the significance of barriers to entry in oligopolistic industries.