Oligopoly is a market structure in which a ________ number of firms compete and there ________ barriers to entry.
A) small; are
B) large; are
C) small; are no
D) large; are no

Question

Quizplus · Accepted Answer

Oligopoly refers to a market dominated by a small number of firms. These firms are able to influence market prices and compete with each other. However, there are barriers to entry for new firms, making it difficult for them to enter the market and compete with established firms. Therefore, the correct answer is A - oligopoly involves a small number of firms and there are barriers to entry.

Oligopoly Is a Market Structure in Which a ________ Number