All of the Following Are Possible Characteristics of Oligopoly Except

question 191

Multiple Choice

All of the following are possible characteristics of oligopoly except

• A)free entry into the industry.
• B)significant economies of scale.
• C)interdependence among sellers.
• D)homogeneous product.

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Definitions:

Fixed Costs

Expenses that do not change with the level of production or sales activities within a certain range.

Contribution Margin

The remaining income after removing variable expenses, allocated to settle fixed expenses and create profit.

Sales Mix

The combination of products or services that a company sells, represented in proportions or percentages.

Markup On Total Cost

A pricing strategy where a fixed percentage is added to the total cost of a product to determine its selling price.