The major distinguishing characteristic of oligopoly is that

A) firms produce differentiated products.
B) firms can influence the price of their product.
C) entry into the industry easy.
D) firms are interdependent.

Oligopoly

A form of industry (market) structure characterized by a few dominant firms. Products may be homogeneous or differentiated.

Differentiated Products

Goods or services that are distinct from others based on quality, features, and branding to compete in the market.

Industry Entry

The process by which new companies or businesses begin to compete in an existing market.