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Asked by Tabitha Carter on Mar 10, 2024

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Oligopoly is a market structure that is characterized by a _____ number of _____ firms producing _____ products.

A) small;interdependent;identical or differentiated
B) small;independent;identical or differentiated
C) large;relatively small independent;differentiated
D) large;relatively small independent;identical

Interdependent

A situation where the outcomes or decisions of two or more entities are dependent on each other.

Oligopoly

A market structure characterized by a small number of firms dominating the market, leading to limited competition.

Differentiated Products

Goods or services that are distinguished from each other by characteristics like quality, design, branding, etc., making them not perfectly substitutable.

  • Gain insight into the concept and qualities of oligopoly.
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FS
Fernanda Sandoval

Mar 10, 2024

Final Answer :
A
Explanation :
Oligopoly involves a small number of firms producing either identical or differentiated products. The firms in an oligopoly are interdependent, meaning their decisions affect each other's profits and market share. Option A accurately describes these characteristics.

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