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Do stereotypes always result in negative consequences? Support your answer with an example from your textbook, and be sure to include the role of the self-fulfilling prophecy.
Oligopolistic Industry
A market structure characterized by a small number of firms that have the power to influence the price of their products or services.
Competitive Price Searchers
Businesses that operate in markets with many competitors and product differentiation, where they have to search for the optimal price to balance attracting customers and earning profits.
Barriers to Entry
Factors that prevent or hinder companies from entering a particular market, which can include high startup costs, strict regulations, and established competition.
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