An Oligopoly Is Characterized by

question 83

Multiple Choice

An oligopoly is characterized by

• A)few firms, which have control over market price
• B)many firms and some barriers to entry
• C)a large number of firms and no barriers to entry
• D)a single firm and no barriers to entry
• E)a single firm and significant barriers to entry

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Definitions:

Organizational Politics

Leveraging authority and cultivating relationships in a company to implement changes that are favorable to the person or the company itself.

Distrust

The feeling of skepticism or lack of confidence in the reliability, truth, or ability of someone or something.

Influence Tactic

Methods or strategies used by individuals or groups to alter or control the behavior or attitudes of others.

Political Power

The capacity or ability of an individual or group to influence the actions, beliefs, or conduct of others within a political context.