An Oligopolistic Industry Is Characterised by All of the Following

question 14

Multiple Choice

An oligopolistic industry is characterised by all of the following except

• A)existence of entry barriers.
• B)the possibility of reaping long-run economic profits.
• C)firms pursuing aggressive business strategies, independent of rivals' strategies.
• D)production of standardised products.

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Definitions:

Crowdsourcing

This involves collecting ideas, information, or content by appealing for contributions from a broad group of individuals, notably within an online community.

Crowdsourcing

A process where information, ideas, or content is gathered by encouraging a large number of people, especially those part of an online community, to contribute.

Big Data

Vast collections of data that can be processed using computational methods to uncover patterns, trends, and links, particularly in the realm of human behavior and interactions.

Crowdsourcing

The practice of obtaining information, ideas, or input into a task or project by soliciting contributions from a large group of people, typically from the online community.