What are the characteristics of an oligopoly?
What will be an ideal response?
An oligopoly market is characterized by a few dominant firms selling either a standardized or differentiated product. An oligopoly is also characterized by mutual interdependence and has strong barriers to entry keeping potential competitors out of the market.
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Government polices aimed at changing the underlying structure or institutions of the nation's economy are called:
A. trade policy. B. structural policy. C. fiscal policy. D. monetary policy.
Refer to Figure 24-2. Ceteris paribus, an increase in the expected price of an important natural resource would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
When you are a secretary and there are seven levels between your role and the CEO your organization is considered to be
a. fat b. tall c. flat d. short
Developing countries should
What will be an ideal response?