Which of the Following Is NOT a Necessary Condition for Oligopoly

question 271

Multiple Choice

Which of the following is NOT a necessary condition for oligopoly?

• A) Barriers to entry
• B) Strategic dependence of firms
• C) Differentiated products
• D) Either a small number of firms or market dominance by a small number of firms

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Definitions:

Accrued Expenses

Expenses that have been incurred but not yet paid or recorded by the end of the accounting period.

Adjusting Entry

An accounting entry made at the end of an accounting period to record earnings or expenses that have occurred but are not yet entered in the accounts.

Asset Account

An account that shows the value of the assets a company controls, which can include cash, equipment, and real estate.