Question

The key feature of an oligopolistic market is that Select one: a. a single firm chooses a point on the market demand curve. b. each firm produces a different product from other firms. c. a small number of firms are acting strategically. d. each firm takes the market price as given.

Answer 1

Answer:

c. a small number of firms are acting strategically.

Explanation:

The Firms in oligopoly can influence market outcome and thus they act strategically to achieve the expected outcome.