Consider the following characteristics:
a. a market structure with barriers to entry
b. demand curves that are easily identified
c. firm cannot make zero profits in the long run
d. firm can reap long-run profits.
Which of the characteristics in the list above is shared by an oligopolist and a monopolist?
A) a, b, c, and d
B) a, b, and d
C) a, c, and d
D) a and d

Question

Consider the following characteristics: 
a. a market structure with barriers to entry
b. demand curves that are easily identified
c. firm cannot make zero profits in the long run
d. firm can reap long-run profits.
Which of the characteristics in the list above is shared by an oligopolist and a monopolist?
A) a, b, c, and d
B) a, b, and d
C) a, c, and d
D) a and d

Quizplus · Accepted Answer

Both oligopolists and monopolists have barriers to entry (a) and can earn long-run profits (d) due to limited competition.

Consider the Following Characteristics