What Is NOT a Characteristic of an Oligopoly

question 216

Multiple Choice

What is NOT a characteristic of an oligopoly?

• A) high barriers to entry
• B) standardized goods between firms
• C) a few large firms dominating the industry
• D) zero economic profit in the long run

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Definitions:

Symbolic

Pertaining to symbols or symbolism, where objects, figures, or colors are used to represent abstract ideas or concepts.

Practical

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Semantics

The study of meaning in language, including the analysis of words, phrases, signs, and symbols and their shift in meaning.

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The set of rules, principles, and processes that govern the structure of sentences in a given language, especially the order of words and phrases.