The Key Characteristic of an Oligopolistic Market Is

question 34

Multiple Choice

The key characteristic of an oligopolistic market is:

• A)production of a homogeneous product.
• B)mutual interdependence among firms in the market.
• C)the absence of market power by any one firm.
• D)ease of entry into, and exit out of, the market.

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Definitions:

Capital Per Worker

The amount of capital stock available per employee in the workforce.

Not Proprietary

Refers to something that is not owned or controlled by a specific entity and is open for use by anyone.

Economic Growth

An increase in the production of goods and services in an economy over a period, typically reflected as a percentage increase in real GDP.

Doubling Inputs

When the quantities of all inputs used in the production process are increased by the same proportion.