Interdependence of firms in oligopoly is the result of______________.? Existence of a large number of firms
Government regulations
Existence of a few firms
Easy entry of new firms
Answers
The existence of oligopoly requires that a few firms are able to gain significant market power, preventing other, smaller competitors from entering the market.
The existence of oligopoly requires that a few firms are able to gain significant market power, preventing other, smaller competitors from entering the market.Increasing returns to scale is a term that describes an industry in which the rate of increase in output is higher than the rate of increase in inputs. In other words, doubling the number of inputs will more than double the amount of output.
The existence of oligopoly requires that a few firms are able to gain significant market power, preventing other, smaller competitors from entering the market.Increasing returns to scale is a term that describes an industry in which the rate of increase in output is higher than the rate of increase in inputs. In other words, doubling the number of inputs will more than double the amount of output.Monopolies and oligopolies often form when an industry has increasing returns to scale at relatively high output levels.
The existence of oligopoly requires that a few firms are able to gain significant market power, preventing other, smaller competitors from entering the market.Increasing returns to scale is a term that describes an industry in which the rate of increase in output is higher than the rate of increase in inputs. In other words, doubling the number of inputs will more than double the amount of output.Monopolies and oligopolies often form when an industry has increasing returns to scale at relatively high output levels.Key Terms
The existence of oligopoly requires that a few firms are able to gain significant market power, preventing other, smaller competitors from entering the market.Increasing returns to scale is a term that describes an industry in which the rate of increase in output is higher than the rate of increase in inputs. In other words, doubling the number of inputs will more than double the amount of output.Monopolies and oligopolies often form when an industry has increasing returns to scale at relatively high output levels.Key Termsoligopoly: An economic condition in which a small number of sellers exert control over the market of a commodity.
The existence of oligopoly requires that a few firms are able to gain significant market power, preventing other, smaller competitors from entering the market.Increasing returns to scale is a term that describes an industry in which the rate of increase in output is higher than the rate of increase in inputs. In other words, doubling the number of inputs will more than double the amount of output.Monopolies and oligopolies often form when an industry has increasing returns to scale at relatively high output levels.Key Termsoligopoly: An economic condition in which a small number of sellers exert control over the market of a commodity.returns to scale: A term referring to changes in output resulting from a proportional change in all inputs (where all inputs increase by a constant factor).