# Economics-Microeconomics

## Quiz 15 :Oligopoly

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An oligopoly is a market structure in which there are
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B

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The distinguishing features of oligopoly are ________ and a ________ in the industry.
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C

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When only a small number of producers compete with each other is a defining characteristic of
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D

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One difference between oligopoly and monopolistic competition is that
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A market structure in which a small number of firms compete is called
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Natural oligopoly is a situation where
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Which of the following is a defining characteristic of oligopoly?
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Suppose that all pizza companies have the same costs and the minimum average total cost is $12 per pizza. The pizza companies have an efficient scale of 100 pies per night. In the small town of Coatsville, at the price of$12 per pizza the quantity demanded is approximately 300 pizzas per night. This market, therefore, can best be characterized as
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If firms in an industry differentiated their products and made economic profits in the short-run, what other characteristic would be important to determine if this is an oligopoly or a monopolistically competitive market?
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In a small town the level of demand is capable of supporting only two gas stations. This market is
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A market structure in which a small number of producers compete against each other is
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The key feature of an oligopoly is that there
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Which of the following is a distinguishing characteristic of oligopoly?
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In oligopolistic markets
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A natural oligopoly can form
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Which of the following is a distinguishing characteristic of oligopoly?
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Which of the following is a distinguishing characteristic of oligopoly?
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In an oligopoly
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