Which of These Is a Characteristic Shared by Both Oligopolies

question 167

Multiple Choice

Which of these is a characteristic shared by both oligopolies and monopolies?

• A) mutual interdependence
• B) significant barriers to entry into the market
• C) a few dominant firms in the industry
• D) normal profits in the long run

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Definitions:

Independent Contractor

An individual or entity contracted to perform work for another entity as a non-employee, retaining control over how the work is completed.

Employee And Agent

Individuals who perform work for another person or entity under an agreement where the employer has the right to control the details of work performance.

Sales Representative

An individual who sells products or services on behalf of a company, often tasked with reaching out to potential customers.

Workers' Compensation Insurance

Insurance that employers are required to have to cover employees who get injured on the job, providing them with financial benefits.