Oligopoly

How many firms are there in an oligopoly?

• Many

• Few

• One

• Eight

Are price wars an advantage or disadvantage?

• Disadvantage

• Advantage

What type of firms dominate in an oligopoly?

• Small firms

• Large firms

• Start-ups

Which of these is an example of oligopoly

• Paper Clips

• Chips

• Luxury Cars

• DEWA

Why are collusions made?

• To restrict competition

• To increase choice

• To introduce new entrants

• None of the above

Which of the following is not a feature of an oligopoly

• Collusion

• Barriers to Entry

• One firm dominates

• Different Products

What do firms in a cartel do?

• Join together and agree on price or output upon colluding

• They compete against each other

• Both

It is very easy to enter an oligopolistic market. True or False?

• True

• False

When firms attain economies of scale, their average costs will____.

• Not change

• Increase

• Decrease

• All of the above

Which of the following is a possible disadvantage of oligopoly

• More choice

• Innovation

• Economies of Scale

• Collusion