Which of the Following Is a Characteristic of Oligopoly

question 109

Multiple Choice

Which of the following is a characteristic of oligopoly?

• A) The pricing policies of one firm have no impact on pricing policies of other firms.
• B) The industry usually has a low concentration ratio.
• C) Firms compete solely on the basis of price.
• D) Prices are usually above marginal costs.
• E) There are large numbers of significantly sized sellers

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Definitions:

Graphology

The analysis of handwriting as a means of evaluating a person's character or psychological state.

Communication Network

The structure and method by which information flows between individuals or groups within a system.

Open

The state of being accessible, receptive, or not closed off; often refers to openness in communication, thought, or spaces.

Decentralized

Describes systems or organizations wherein power, decision-making, or resources are dispersed rather than concentrated in a central location.