Oligopolistic industries are characterized by ___________.Aa few dominant firms and substantial barriers to entryBa few large firms and no entry barriersCa large number of amall firms and no entry barriersDone dominant firm and low entry barriers
Shamit Jain , 4 Years ago
Grade 8
1 Answers
Omveer Singh
Last Activity: 4 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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