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jason dhillon
on Nov 26, 2024

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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.
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Lovia ClarkDec 03, 2024
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