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diamong [38]
3 years ago
8

What are the characteristics of an Oligopoly?

Social Studies
2 answers:
Nonamiya [84]3 years ago
8 0

Answer:

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.

Luba_88 [7]3 years ago
3 0
It’s an industry run by small number of large firms
Firms which sell the same or different products
Has significant barriers to entry
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