One Key Characteristic That Is Distinctive of an Oligopoly Market

question 113

Multiple Choice

One key characteristic that is distinctive of an oligopoly market is that

• A) the demand curve facing each firm is downward sloping, with a marginal revenue curve that lies below the firm's demand curve.
• B) the decisions of one seller often influence the price of products, the output, and the profits of rival firms.
• C) there is only one firm that produces a product for which there are no good substitutes.
• D) there are many sellers in the market and each is small relative to the total market.

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Definitions:

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