Which of the following is a characteristic of an oligopolistic market structure?
A)There are few dominant sellers.
B)Each firm sells a unique product.
C)It is easy for new firms to enter the industry.
D)Each firm need not react to the actions of rivals.

Question

Quizplus · Accepted Answer

An oligopolistic market structure is characterized by a small number of dominant sellers, which gives them the power to influence the market through their actions and decisions. This leads to a level of interdependence between firms, which means that each firm must react to the actions of its rivals in order to maintain or gain market share. The other options, B, C, and D, do not accurately describe the characteristics of an oligopolistic market structure.

Which of the Following Is a Characteristic of an Oligopolistic