Which of the Following Is a Characteristic of an Oligopoly

question 10

Multiple Choice

Which of the following is a characteristic of an oligopoly market?

• A) control over price
• B) diseconomies of scale in production
• C) firms act independently without regard to each other
• D) all of the above

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Definitions:

Empowerment

The process of giving individuals or groups the autonomy, resources, and ability to make decisions and take actions that affect their work or lives positively.

High Satisfaction

A state where expectations or needs are met or surpassed, often leading to contentment and positive feedback.

Contextual Factors

Elements in the environment that influence the success or failure of a process or organization, including cultural, social, and physical variables.

Job Characteristics Model

A theory that suggests jobs are more satisfying and motivating when they involve tasks that are significant, require a variety of skills, allow autonomy, and provide feedback.