OLIGOPOLY

What is Oligopoly Market Structure?

• this market consist of lots of sellers.

• re markets dominated by a small number of suppliers.

• with a small number of firms, none of which can keep the others from having significant influence.

• none of the above.

select the correct characteristic of an oligopoly market

• 1.There are no transaction costs.

  2.There are no barriers to entry into or exit from the market.

• 1.There are many buyers and sellers in the market.

  2.Each company makes a similar product.

• 1.Fewer sellers

  2.Barriers to entry

select the correct pros of an oligopoly market

• it can still offer competitive pricing.

• Homogeneous products.

• No barriers to entry and exit.

select the correct con for an oligopoly market.

• decreases your market share and shrinks your customer base

• also force you to lower your prices to stay competitive.

• price fixing is common.

between coca-cola and pepsi who is the leading company?

• pepsi

• coca-cola

• both