Multiple Choice
Which of the following is a characteristic of oligopoly?
A) Firms compete solely on the basis of price.
B) The pricing policies of one firm have no impact on pricing policies of other firms.
C) There are large numbers of significantly sized sellers.
D) The industry usually has a low concentration ratio.
E) Prices are usually above marginal costs.
Correct Answer:
Verified
Correct Answer:
Verified
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