Which of the Following Is Not a Characteristic of an Oligopolistic

question 86

Multiple Choice

Which of the following is not a characteristic of an oligopolistic industry?

• A)Substantial barriers to entry.
• B)The output produced by the firms in the industry may be homogeneous or differentiated.
• C)A small number of large firms.
• D)One dominant firm and low entry barriers.

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Definitions:

Discouraged Workers

Individuals who are not actively seeking employment due to believing that no jobs are available for them or there are no jobs for which they would qualify.

Frictional Unemployment

Unemployment that occurs when people are between jobs or are entering the workforce for the first time.

Imperfect Information

A situation in which parties in a transaction have unequal or inadequate information, leading to market inefficiencies.

Total Employment

The total number of people employed in an economy at a given time, including both full-time and part-time workers.