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17 August, 21:35

What are the characteristics of an Oligopoly?

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Answers (2)
  1. 17 August, 23:29
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    It's an industry run by small number of large firms

    Firms which sell the same or different products

    Has significant barriers to entry
  2. 18 August, 01:15
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    Oligopoly is a market structure with a small number of firms, none of which can keep the others from having significant influence.

    Explanation:

    The three most important characteristics of oligopoly are:

    (1) an industry dominated by a small number of large firms,

    (2) firms sell either identical or differentiated products, and

    (3) the industry has significant barriers to entry.
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