The mutual interdependence in an oligopoly is most similar to two people... A.holding hands B.on a tandem bicycle C.playing chess D.watching a movie together

What is oligopoly?

Which industry(ies) would be indicative of an oligopoly market structure? Check all that apply.   A. A drug cartel   B. The tobacco industry   C. The corn industry   D. The restaurant industry   E. The grocery industry   F. The crude oil industry   G. The laundry detergent industry

Which of the following statements about oligopoly are FALSE:     A. Oligopolies have a tendency to collude and form cartels in order to split monopoly like profits   B. Oligopolistic markets under collusion are socially inefficient (create deadweight loss)   C. If two firms are in a collusion and Firm 1 violates the agreement by lowering the price, Firm 1 will increase its own profit but overall profit in the industry will go down   D. All of the above statements are true

Why do oligopolies exist? Explain if you regularly purchase products owned by an oligopoly

Oligopoly On the next few slides be sure to answer the following questions. What is an oligopoly? Give an example of an oligopoly. How many sellers are competing? What are the barriers to entry? Do the sellers have control over their price? Why or why not? Are the products different? Should competitors work together in an oligopolistic market? Why or why not? What is it called if they do, and is it legal?

What type of a product (identical, unique, variety etc) is in a oligopoly and how easy is it for a business to enter and exit the market

what are oligopoly firms? can you identify the main characteristics of firms in an oligopoly market? find the real-life example and explain.

E3

Define oligopoly in your own words and elaborate on the characteristics of oligopoly.