Oligopolies Exist and Do Not Attract New Rivals Because

question 92

Multiple Choice

Oligopolies exist and do not attract new rivals because

• A)of competition.
• B)of barriers to entry.
• C)the firms keep profits and prices so low that no rivals are attracted.
• D)there can be no product differentiation.

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Definitions:

Standardization

The process of implementing and developing technical standards to maximize compatibility, efficiency, and quality among products and systems.

Differentiation

A marketing strategy where a company designs its products or services to be unique and attractive to a specific customer segment, setting it apart from competitors.

Marketing Strategy

A comprehensive plan formulated by businesses to achieve specific marketing objectives.

Global Corporations

Large multinational companies that operate and provide goods or services in multiple countries around the world.