question archive The key feature of an oligopolistic market is that: a
The key feature of an oligopolistic market is that: a
Subject:MarketingPrice:2.88 Bought3
The key feature of an oligopolistic market is that:
a. each firm produces a different product from other firms.
b. a single firm chooses a point on the market demand curve.
c. each firm takes the market price as given.
d. a small number of firms are acting strategically.
Purchase A New Answer
Custom new solution created by our subject matter experts
GET A QUOTE
Answer Preview
The key feature of an oligopolistic market is that (d) a small number of firms are acting strategically
The main aspect of an oligopolistic market structure is that a small number of firms act strategically. They try to maximize their profits by forming either like a cartel or acting like a monopoly. The result of this structure is a higher quantity and a lower price than the monopoly result.
