Which of the following characteristics distinguishes oligopolyfrom other market structures? a. interdependence amoung firms in the industry b. downward sloping demand curve c. production of homogeneous outputs d. production of diffentiated outputs e. a horizontal demand curve Which of the following characteristics distinguishes oligopolyfrom other market structures? a. interdependence amoung firms in the industry b. downward sloping demand curve c. production of homogeneous outputs d. production of diffentiated outputs e. a horizontal demand curve
Explanation / Answer
Which of the following characteristics distinguishes oligopolyfrom other market structures? a. interdependence amoung firms in theindustry = oligopoly such as OPEC need each others' help with pricesetting b. downward sloping demand curve c. production of homogeneous outputs d. production of diffentiated outputs e. a horizontal demand curve