Which type of competition is characterized by a small number of firms, homogeneous products and costly entry and exit?
A) perfect competition
B) monopolistic competition
C) oligopoly
D) monopoly

Question

Quizplus · Accepted Answer

This describes the characteristics of an oligopoly, where a small number of firms dominate the market, products are similar or homogeneous, and barriers to entry and exit are high.

Which Type of Competition Is Characterized by a Small Number