Ask Question
30 December, 14:32

An oligopoly is a market in which a the actions of one seller in the market have no impact on the other sellers' profits. b firms are price takers. c there are many price-taking firms, each offering a product similar or identical to the products offered by other firms in the market. d there are only a few sellers, each offering a product similar or identical to the products offered by other firms in the market.

+2
Answers (1)
  1. 30 December, 14:44
    0
    The correct answer is option d.

    Explanation:

    An oligopoly is a market structure where there are a few producers producing homogeneous products or similar products which are close substitutes. Because of a few firms, there is a high degree of competition in the market.

    The market decisions of a firm affect its rivals, so all the firms are interdependent on each other.

    The firms are price makers. There is high restrictions on entry of firms in the market.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “An oligopoly is a market in which a the actions of one seller in the market have no impact on the other sellers' profits. b firms are price ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers