Which of the following statements about olipolistic market conditions are correct?
A.An oligopoly exists where there are few suppliers in the market for a supply of a particular good or service.
B. Where oligopolistic market conditions exist, there is a danger of reduced competition and stagnation of prices.
A)Both of them
B)B only
C)Neither of them
D)A only

Question

Which of the following statements about olipolistic market conditions are correct? 
A.An oligopoly exists where there are few suppliers in the market for a supply of a particular good or service.
B. Where oligopolistic market conditions exist, there is a danger of reduced competition and stagnation of prices.
A)Both of them
B)B only
C)Neither of them
D)A only

Quizplus · Accepted Answer

Both statements are correct. An oligopoly refers to a market structure where a few large firms dominate the market for a particular good or service, and reduced competition can result in higher prices and a lack of innovation.

Which of the Following Statements About Olipolistic Market Conditions Are