Which Cannot Be a Characteristic of an Oligopolistic Industry

question 148

Multiple Choice

Which cannot be a characteristic of an oligopolistic industry?

• A) differentiated products
• B) a large number of consumers
• C) significant barriers to entry
• D) a perfectly elastic firm demand curve

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Definitions:

Markets

Places or systems in which parties engage in the exchange of goods, services, or information, driven by supply and demand.

Circular-Flow Diagram

A graphical representation illustrating the flow of funds among households, companies, and the government within an economy.

Factors Of Production

Inputs necessary for the creation of goods and services, including labor, land, capital, and entrepreneurship.

Circular-Flow Diagram

A visual model of the economy that shows how dollars flow through markets among households and firms, illustrating the interactions between key sectors of the economy.