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:

Collective Identity

The shared sense of belonging to a group that distinguishes members from other groups and shapes their perceptions and actions.

Riots

Violent disturbances of the peace by a crowd, often a protest against policies or actions.

Shared Focus

A situation where all members of a group concentrate their efforts and attention on a common objective or goal.

Disperse

To scatter or spread out from a common point to various directions, often referring to groups or particles.