The size of the firm is the only thing that differentiates oligopoly markets from the other three market structure types (perfect competition, monopoly, and monopolistic competition).

Question

Quizplus · Accepted Answer

Oligopoly markets are differentiated not just by the size of the firms but also by the small number of firms dominating the market, strategic interactions among these firms, and barriers to entry that protect the oligopolists from new competitors.

The Size of the Firm Is the Only Thing That