Which of the Following Are Attributes of an Oligopoly Market

question 208

Multiple Choice

Which of the following are attributes of an oligopoly market?
(i) a few firms sell differentiated products
(ii) there are many buyers, but only a few sellers
(iii) each firm is concerned with how competitors will react to their decisions

• A)(i) only
• B)(i) and (ii) only
• C)(ii) and (iii) only
• D)(i), (ii) and (iii)

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Definitions:

Field of Experience

Refers to the accumulated knowledge and skills that individuals or organizations possess, usually related to a specific industry or professional area.

Communication Process

The sequence of steps wherein information is transferred from a sender to a receiver effectively.

Feedback Loop

A system in which the output or result of an action is returned (fed back) to modify the next action or decision.

Response

An individual's reaction to a stimulus or an event, which can be measured in various contexts, including marketing and psychology.