Oligopoly Is Characterized by

question 167

Multiple Choice

Oligopoly is characterized by

• A)identical products only.
• B)differentiated products only.
• C)high barriers to entry.
• D)many firms.

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Definitions:

Future Value

The worth of an asset or cash on a future date that has the same value as a certain amount presently.

Present Value

A calculation that determines the current worth of a future sum of money or stream of cash flows, given a specified rate of return.

Usury Laws

Regulations governing the amount of interest that can be charged on a loan, intended to prevent lending at excessively high rates.

Nonmarket Rationing

Distribution of goods and services based on criteria other than price, such as need or merit.