Which of these is a characteristic shared by both oligopolies and monopolies? a. Normal profits in the long runb. Significant barriers to entry into the marketc. Mutual interdependenced. A few dominant firms in the industry

Question

Oswaldo Glenn

Business

10 August, 07:58

Which of these is a characteristic shared by both oligopolies and monopolies? a. Normal profits in the long runb. Significant barriers to entry into the marketc. Mutual interdependenced. A few dominant firms in the industry

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Harper Andersen · Answer 1

The characteristics which is shared among both monopolies and oligopolies is that they have significant barriers to the entry into the market.

Explanation:

Oligopoly market is the market structure which have a small number of firms, and could not have significant influence. The market have the barriers for entering into the market.

Monopoly market is the one which have a market structure having a single seller, selling the unique product, faces no competition and no substitute available with customers. In this market, there is also barriers for entering into the market.