question archive One of the characteristics of an oligopoly is a) many sellers
One of the characteristics of an oligopoly is a) many sellers
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One of the characteristics of an oligopoly is
a) many sellers.
b) easy entry.
c) interdependence in decision making.
d) the use of patents to protect market share.
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One of the characteristics of an oligopoly is (c) interdependence in decision making. An oligopoly only has a "few" sellers. Because of this, the amount of competition between firms will have an impact on their profits. When the firms do not compete strongly, profits will be higher. But if they decide to compete with each other, all will earn lower profits.
