Which of the Following Is a Defining Characteristic of an Oligopoly

question 149

Multiple Choice

Which of the following is a defining characteristic of an oligopoly?

• A)Barriers to entry prevent new firms from entering the market.
• B)A few large firms have market power.
• C)Easy entry and exit into the market prevents firms from earning long run profits.
• D)All firms in the market sell a standardized product.

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Definitions:

Chloroplast

An organelle found in plant and algal cells that conducts photosynthesis, converting light energy into chemical energy.

Anthocerophyta

A division of non-vascular plants known as hornworts, characterized by a unique sporophyte structure.

Polyploids

Organisms that have more than two complete sets of chromosomes, which is a condition common in plants and some animal species.

Genetics

Genetics is the branch of biology that studies genes, genetic variation, and heredity in organisms, explaining how traits are passed from parents to offspring.