A Key Characteristic of Oligopoly Is

question 70

Multiple Choice

A key characteristic of oligopoly is

• A) a single firm producing a product with no close substitutes.
• B) complete absence of entry barriers.
• C) a demand curve much less elastic for price increases than for price decreases.
• D) the tendency to spend less on product differentiation and advertising than a perfectly competitive firm.
• E) actual and perceived interdependence among firms.

---

Definitions:

Variance

A statistical measure of the dispersion or spread in a set of data points, indicating how much they differ from the average.

Behavioral Measure

An assessment or observation of actions and behaviors, often used in psychological research to quantify behavior in a reliable and valid manner.

Situational Variable

Any external factor that can influence behavior in a given context.

Personality Literature

involves the scholarly and scientific studies, writings, and discussions on the patterns of thoughts, feelings, and behaviors that make a person unique.