Author Question: What are the characteristics of an oligopoly?[br][br][b][color=#151B54]Question ... (Read 62 times)

hubes95 · **on:** Jun 30, 2018

What are the characteristics of an oligopoly?

Question 2

Which of the following must be true if average total cost is rising?
a. Average fixed cost must be rising.
b. Total fixed cost must be rising.
c. Average variable cost must be falling.
d. Marginal cost must be greater than average total cost.

zoeyesther · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

An oligopoly market is characterized by a few dominant firms selling either a standardized or differentiated product. An oligopoly is also characterized by mutual interdependence and has strong barriers to entry keeping potential competitors out of the market.

Answer to Question 2

d