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Oligopolistic industries are characterized by ___________. A a few dominant firms and substantial barriers to entry B a few large firms and no entry barriers C a large number of amall firms and no entry barriers D one dominant firm and low entry barriers

Oligopolistic industries are characterized by ___________.

A

a few dominant firms and substantial barriers to entry

B

a few large firms and no entry barriers

C

a large number of amall firms and no entry barriers

D

one dominant firm and low entry barriers

 
 
 

Grade:8

1 Answers

Omveer Singh
askIITians Faculty 52 Points
3 years ago

Oligopoly is a situation where few firms dominate the market and they are very highly concentrated. There is also restrictions on entry and exit of firms. Hence, oligopolistic industries are characterized by a few dominant firms and substantial barriers to entry.

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