Which of the Following Is One of the Defining Characteristics

question 123

Multiple Choice

Which of the following is one of the defining characteristics of an oligopoly?

• A)The strategic interactions between a firm and its rivals have a major impact on each firm's profits.
• B)No single firm has an impact on the market as a whole.
• C)There are only a few buyers in the market.
• D)There are no barriers to entry to the market.

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Definitions:

Doing Personal Favours

Acts of helping out individuals, usually without expectation of return, that can build relationships in both personal and professional contexts.

Overlooking Wrongdoings

The act of ignoring or failing to address unethical or improper behavior within an organization or group.

Formal Codes

Formal codes are established guidelines or systems of rules, often written, that dictate the expected conduct or procedures within an organization or community.

Ethics

Principals that define right and wrong behavior in conducting one’s personal and professional life.