Consider the Following Characteristics of a Particular Industry: - the Four-Firm

question 79

Multiple Choice

Consider the following characteristics of a particular industry: - the four-firm concentration ratio is 78% (in the relevant market)
- each firm produces output where P > MC
- the products are highly differentiated
This industry is likely to be

• A)an oligopoly.
• B)one where each firm has limited market power.
• C)monopolistic.
• D)perfectly competitive.
• E)a cartel.

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