question archive Oligopolistic firms exhibit profits in the long run only if there are significant: a
Oligopolistic firms exhibit profits in the long run only if there are significant: a
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Oligopolistic firms exhibit profits in the long run only if there are significant:
a. barriers to entry
b. incentive to cooperate
c. incentives to cheat
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Answer choice: a. barriers to entry
Explanation:
Oligopolistic firms exhibit profits in the long run only if there are significant barriers to entry. Significant barriers to entry means that it is extremely difficult for new firms to enter the market. Due to the barriers to entry the oligopolistic firms will likely show profits in the long run due to the fact that there are not many alternatives for consumers.
