Oligopolistic firms

A) are few in number.
B) are interdependent.
C) charge a higher price and produce a smaller output than perfect competitors.
D) all of the choices are true of oligopolistic firms.

Interdependent

The mutual reliance between two or more entities, where changes in one affect the others.

Perfect Competitors

Refers to businesses in a market structure where they sell homogenous products, face no barriers to entry or exit, and none of them can influence the market price.

Smaller Output

Production of fewer goods or services, often indicating a reduction in manufacturing or business activity levels.