Asked by Cheng Tso Hsieh on May 14, 2024
Verified
An oligopoly environment can be described an environment:
A) that can reap excessive business profits in the absence of competition within defined market segments.
B) with few players who are more influenced by the actions of their rivals than those of their customers.
C) that can sustain long-term competitive advantages within defined market segments.
D) None of the options listed
E) All of the options listed
Oligopoly Environment
An oligopoly environment is a market structure characterized by a small number of large firms dominating the market, leading to limited competition and potentially cooperative behavior among companies.
Competitive Advantages
Unique attributes or circumstances that allow an organization to outperform its competitors.
Excessive Business Profits
Refers to the disproportionately high earnings that a business may make, often seen as beyond what is considered fair or reasonable in relation to its production costs or societal contributions.
- Recognize and differentiate among various market structures including monopoly, oligopoly, and hypercompetitive scenarios.
Verified Answer
Learning Objectives
- Recognize and differentiate among various market structures including monopoly, oligopoly, and hypercompetitive scenarios.
Related questions
Aircraft Manufacturers Such as Airbus and Boeing Can Be Considered ...
An Industry That Consists of Two Firms Is ...
The Analysis Used for Oligopolistic Firms Is Similar to That ...
The Market for Dentists in Most Communities Can Be Considered ...
Which Feature Is Shared by Monopolistic Competition and Perfect Competition ...