Oligopoly situations develop when a market has:
A) relatively few buyers.
B) elastic industry demand.
C) heterogeneous products.
D) relatively few sellers.
E) All of the above.

Question

Quizplus · Accepted Answer

Oligopoly situations develop when there are relatively few sellers in the market. Although the other options may be present in an oligopoly market, the key defining feature is the limited number of sellers.

Oligopoly Situations Develop When a Market Has