Multiple Choice
Like a pure monopoly,an oligopoly is characterized by
A) free entry and exit in the long run.
B) free entry and exit in the short run.
C) significant barriers to entry.
D) all firms in the market producing the socially efficient level of output in the long run.
E) a single firm selling a product with no close substitutes.
Correct Answer:
Verified
Correct Answer:
Verified
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