question archive In the dominant firm model of oligopoly, the dominant firm acts like A
In the dominant firm model of oligopoly, the dominant firm acts like A
Subject:MarketingPrice:2.88 Bought3
In the dominant firm model of oligopoly, the dominant firm acts like
A. a monopolistic competitor.
B. a monopolist.
C. a duopolist.
D. a perfect competitor.
Purchase A New Answer
Custom new solution created by our subject matter experts
GET A QUOTE
Answer Preview
In the dominant firm model of oligopoly, the dominant firm acts like a monopolist (B).
From the definition of an oligopolistic market structure, there is an aspect of dominance that is characterized by a few large sellers in the market. In contrast, a monopoly is made up of one seller that dominates the entire market. Therefore, in a certain industry, an oligopoly may have one seller but several sellers in other industries in the market, thus making the single seller in that industry to act as a monopoly because they control the market solely.
