Oligopolistic Industries Are Characterized by

question 251

Multiple Choice

Oligopolistic industries are characterized by

• A) a few dominant firms and substantial entry barriers.
• B) a few dominant firms and no barriers to entry.
• C) a large number of firms and low entry barriers.
• D) a few dominant firms and low entry barriers.

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Definitions:

Narcotic

A drug capable of producing sleep and relieving pain or inducing unconsciousness and even death, depending on the dosage.

Prescription

A written direction for the preparation of a medicine.

Suppository

A solid medical preparation designed to be inserted into the rectum, vagina, or urethra, where it dissolves or melts to exert a local or systemic effect.

Narcotic

Substances that reduce pain, alter mood or behavior, and can cause sleep or stupor, often used medically for pain relief but can lead to addiction.