Which of the descriptions are characteristics of oligopoly and which are not?a. significant barriers to entryb. large number of firms producing differentiated productsc. free entry and exitd. large number of buyers and sellerse. firms must consider competitors' reactions when making decisions

a. High entry barriers: This claim is consistent with an oligopolistic market. In fact, oligopolies…

Answered: Which of the descriptions are…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter15: Oligopoly And Strategic Behavior

Section: Chapter Questions

Problem 6P

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Feve *747 NEW Q1 Which of the following characterize oligopoly markets? Workshop week 9 Maximizing profit under imperfect competition: monopolistic competition and oligopoly. vlogonom a. Non price competition b. Perfect information c. Only a few firms competing. d. Identical products fro A and c B and d A, b, and d B, c, and d i. ii. iii. iv. C. d. 7 Q3 In an oligopoly a. b. UCLan Centr Unive Q2 Firms in monopolistic competition can achieve product differentiation by a. Exploiting economies of scale in production b. B advertising special characteristics c. Expanding plant size d. Setting the price equal to average revenue muzzs on to amor nie! bns binen woy 06) (s muzza arts to smoa nisiqxs has sman woy ns) (d pshoq to 6 zl jsil (8 sriw.nl (d toshaq ont 916 tedW (d 916 16W (6 916 1pW (d The largest four firms are likely to have a small market share. The price is likely to equal marginal revenue. Firms will continue to produce in the long run if price is less than average cost. Firms…
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Which of the descriptions are characteristics of oligopoly and which are not? a. significant barriers to entry b. large number of firms producing differentiated products c. free entry and exit d. large number of buyers and sellers e. firms must consider competitors' reactions when making decisions