Question

15. It is that market where there are a few firms in the market producing either homogeneous
products or differentiated products. *
(2 Points)
O monopolistic competition
O monopoly
perfect competition
o oligopoly

Answer 1

Answer:

Oligopoly is a form of imperfect competition and is usually described as the competition among a few. Hence, Oligopoly exists when there are two to ten sellers in a market selling homogeneous or differentiated products. ... These firms sell homogeneous as well as differentiated products in the market.