Oligopoly Is a Market Structure

Multiple Choice

Oligopoly is a market structure:

A) that has many buyers and sellers, a homogeneous product, and allows easy entry into and exit from the industry.
B) in which barriers to entry are so high that there is only one firm in the market.
C) in which there are a few sellers and the barriers to entry are usually cost related.
D) that has characteristics of both monopoly and perfect competition and is much closer to the competitive situation.