One Key Characteristic That Is Distinctive of an Oligopoly Market

question 77

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 influences 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.

---

Definitions:

Goodwill

The intangible asset that arises as a result of the acquisition of one company by another for a premium value, representing the reputation, brand, or customer relations.

Equal Emphasis

Giving the same level of importance or attention to all elements or aspects of something.

Fairness

The quality of making judgments that are free from discrimination or dishonesty; impartiality.

You-viewpoint

A perspective in communication emphasizing the interests and concerns of the audience or recipient.