Home › Bihar Board Class 12 (Arts) › Economics › Forms of Market and Price Determination › A distinctive feature of oligopoly is:
A distinctive feature of oligopoly is:
AMutual interdependence
BOne dominant seller
CEasy free entry
DIdentical output only
Answer & Solution
Correct answer: A. Mutual interdependence
Each firm must weigh the reactions and countermoves of the few rivals, so their decisions are interlinked.
Related questions
Monopolistic competition produces what kind of products?Who published The Economics of Imperfect Competition in 1933?Oligopolists can earn abnormal profits in the long run mainly because of:Interdependent oligopolists are generally reluctant to:In a monopoly, the firm and the industry are:Economic profit in perfect competition attracts:Normal profit is counted as part of a firm's:A monopolist whose revenue exceeds its costs earns: